First Signs Of Chinese Investment Returning To Home Market

After a year in which China embarked upon an unprecedented shopping spree buying up assets across the globe, it seems Chinese focus is returning back home. The fund raising of CNY9bn (US$1.32bn) by the private equity (PE) arm of state-run financial and industrial conglomerate CITIC Group is perhaps the strongest indicator yet that China sees turning around the performance of its state-owned enterprises as the key driver for future growth. The fund, which now represents the largest local-currency fund in China, is set to be allocated predominantly to companies in the state-sector, where it enjoys good access. One particular industry that stands to benefit from the latest round of fundraising is the heavy equipment sector.

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