Gao Xiqing Interview

Ashby Monk

World Business has an interesting interview out with Gao Xiqing, the China Investment Corporation’s Vice Chairman, President & CIO. The interview touches on several issues.

First, they talk about investment strategy. Gao says that the CIC has a highly diversified investment strategy. In farming terms, he said, “We plant everything.” This corresponds with what Lou Jiwei said in February 2008 about the CIC’s strategy.

Second, Gao discusses the time horizon of the CIC in its investment decision-making. “As a sovereign wealth fund, we are much longer term investors…We look…in 50 year spans…so timing is not the most important thing.” This fits with the view that SWFs are the longest term investors in financial markets today.

Finally, Gao ends the interview with a discussion on the global financial crisis and the role of the dollar as a reserve currency. Gao’s view is that in the long run a “multi-polar currency system” is needed.

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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