America’s Trump administration has made headlines with its taste for “alternative facts,” and now the leadership of mainland sovereign wealth fund China Investment Corporation seems ready to adopt this flexible approach to reality as it lobbies for more favorable treatment for Chinese investment in the US.
In an exclusive interview published in the Wall Street Journal recently, CIC president Tu Guangshao, whose fund spent $1.7 billion on Manhattan real estate last year, told a Beijing-based reporter that, “We can’t even name one symbolic direct investment in America,” while explaining that “US regulators have been hard on us.”
essay biline persuasive essay on better school lunches letter credit research paper essay on the tango writing prompts for essays essay empire coupon code customize-thesis-theme free thesis papers online software engineering master thesis projects examples of college essays for transfer students CIC Among Manhattan Real Estate’s Biggest Investors Last Year
The fund, which has been China’s biggest buyer of overseas real estate assets, made its first acquisition in the US last May, directly acquiring a 49 percent interest in the 1 New York Plaza office tower from Brookfield Property Partners for $700 million.
CIC, which owns extensive real estate portfolios in Europe and Australia, went on to buy a 45 percent stake in a building in New York’s iconic Rockefeller Center in December, picking up that interest from CPPIB for $1.03 billion.
Together the two commitments made CIC one of the biggest single investors in New York real estate in 2016.