FRANKFURT, Sept 3 Central Huijin Investment
Ltd., the state-owned holding company for China's largest
financial institutions, is seeking European bank investments to
diversify its domestic holdings, vice-chairman Li Jiange said on
"When we invest in China, efficiency and investment return
has gone down," Jiange said at a banking conference in Germany.
"If we can then expand abroad, then we are highly interested
in looking into European banks," he said, speaking through a
translator. "We would really be interested in profitable
Huijin, a unit of China's $653 billion sovereign wealth fund
China Investment Corporation (CIC), is a major
shareholder in China's biggest banks.
Huijin has periodically purchased listed shares of Chinese
commercial banks and other financial firms on the secondary
As of the end of 2013, Huijin had investments in 18 Chinese
financial institutions, but none in other countries, according
to its website. It manages the majority of CIC's roughly $450
billion investment in China.
CIC has other investments abroad via another subsidiary,
China Investment Corp International.
(Reporting by Thomas Atkins, additional reporting by Koh Gui
Qing and Jason Subler; Editing by Susan Thomas)