The chairman of China’s massive sovereign wealth fund has said that monetary easing in the euro zone would be “good news” and open up market opportunities.
China Investment Corporation (CIC), which is responsible for managing some of the country’s massive currency reserves, was founded in 2007 and has $575 billion of assets under management, according to the Sovereign Wealth Fund Institute, and is the fourth-largest wealth fund of its kind in the world.
Chairman Ding Xuedong, speaking to CNBC at the St. Petersburg International Economic Forum, said that that any upcoming stimulus measures announced by the European Central Bank (ECB) would be justified.
“I think ECB’s position is reasonable, and we will take that into consideration when we look at market opportunities in Europe. I think on the whole it may be good news for us,” he told CNBC Friday.