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NZ FinMin: CIC Eyes Govt Bonds

China Investment Corporation is considering acquiring New Zealand’s government bonds at an auction, said New Zealand finance minister, Bill English.

China Investment Corporation (CIC) is considering acquiring New Zealand’s government bonds at an auction, said New Zealand finance minister, Bill English, Bloomberg reports. The $300 billion fund may have set aside $4.9 billion of its reserves to invest in New Zealand.

Singapore, Hong Kong and Malaysia have also shown interest in acquiring New Zealand debt. Asian governments are seeking to cut their reliance on U.S. dollar assets when investing their reserves.

Click here for the story from Bloomberg.

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