China is increasingly facing resistance within countries where it’s trying to invest, according to a top official at the country’s sovereign wealth fund.China Investment Corporation (CIC) will probably gain investment opportunities thanks to an ongoing global economic recovery, but it is also “facing more difficulties and challenges” related to “protectionism,” Tu Guangshao, vice chairman and president of CIC, told CNBC on the sidelines of the Asian Financial Forum.”As CIC and China make more foreign investments, we’re seeing the rise of protectionism in some countries and regions, be it the U.S. or Europe. They’re making some protectionist moves, some specifically targeting China,” Tu told CNBC in Mandarin.
Source: China wealth fund faces ‘protectionism,’ says CIC president – CNBC
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Craig Erlam
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