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URN etd-0830110-110559
Author Yee-hong Chua
Author's Email Address alexchuayeehong@hotmail.com
Statistics This thesis had been viewed 5333 times. Download 1356 times.
Department ICAPS
Year 2009
Semester 2
Degree Master
Type of Document
Language zh-TW.Big5 Chinese
Title The Triangular Strategy of China`s Sovereign Wealth Funds
Date of Defense 2010-06-22
Page Count 158
Keyword
  • Sovereign Wealth Fund
  • Triangular Strategy
  • Foreign Exchange Reserves
  • Energy Security
  • Foreign policy
  • Abstract In 2007, Chinese Government has established the first sovereign wealth fund in formal and funded with $2,000 billion dollars which called as China Investment Corporation(CIC).It is purposed to settle the bad debts of State-owned Bank and process the restrcuting of financial management system. At the same time, CIC invest overseas investment actively. The Chinese Government treats the sovereign wealth funds as a vehicle, positively to establish the strategic reserve system for energy and raw materials. Except to hedge the volatility of international market price,in the other hand, to optimize the Chinese industrial structures to be more efficiency. But, in beginning stage of China's sovereign wealth funds, they faced the problems with other state-owned enterprises in overseas investments.It happens the group-overlapping effect and huge losses when deals with multinational enterprises,and it caused the dosmestic critisms .
    However, China's sovereign wealth fund set up by the time is not long, mostly of the chinese scholars have proposed a strategy as “Fund Exchange for Technology” .It is through the usages of China's foreign investment to acquire the resources and technology. On the national development strategic, the China's sovereign wealth funds which controlled by the Chinese Central Financial leading group, are responsible to execute the national missions.In addition to the country's political security,economic security,it also to ensure the food security,energy security,water resources, and other important resources. Clearly, political motivations and core technology is the Chinese Government's core interests, which is China's national security and sustainable development. This article is researching into the core interests for the Triangular Strategy of China`s Sovereign Wealth Funds.
    In the raising of the "Strong Power" of China , national security issues are priority to be settled .Acquisition for the "Power Composition" ,which included the key technolgy and resources , and Chinese government is facing the main challenges.Would the China's sovereign wealth fund still keep investing although it occurred huge losses in overseas energy procurement,acquisition of dosmestic and abroad enterprises, financial assets, investment activities of configuration? Comparatively, would the CIC continuing to expand and investing with "trianglular strategy" to achieve the core interests.In general, keep the subsequent to focus on the economical discourse power and the core technology.
    Advisory Committee
  • Wen-cheng Lin - chair
  • Hsien-chao Chang - co-chair
  • Jiin-ming Fahn - advisor
  • Files
  • etd-0830110-110559.pdf
  • indicate access worldwide
    Date of Submission 2010-08-30

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