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China Goes On U.S. Buying Spree

1 min read

China Goes On U.S. Buying Spree

BEIJING (AP) — China’s giant sovereign wealth fund revealed it has accumulated stakes totaling $9.6 billion in major U.S. companies including Coca-Cola, Apple and Goodyear following a buying spree last year.

Most of the stakes are small, reflecting China Investment Corp.’s strategy of avoiding politically sensitive acquisitions. But they highlight its growing presence in global markets as it invests a portion of Beijing’s $2.4 trillion in foreign reserves.

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