Friday, January 18, 2008
U.K. Offers London as Base for China's $200 bl fund
-- U.K. Prime Minister Gordon Brownoffered London as an overseas base for China Investment Corp.,the nation's $200 billion sovereign wealth fund, aiming to encourage the world's fastest-growing major economy to invest in Britain. --``If CIC opened an office in London, that would help more U.K. fund managers win mandates from the fund,'' said Ke Shifeng,who helps manage about $5 billion of Greater China assets forMartin Currie Investment Management in Shanghai. ``It could alsodrive CIC to take more equity stakes in British companies.'' --China last year surpassed the U.K. as the biggest exporter to the Eurozone and Brown wants to sell British luxury brands to consumers, attract Chinese students to U.K. universities anddraw the country's estimated 300 million soccer fans to theEnglish Premier League.