Huijin may have purchased 10 billion yuan ($1.89 billion) in ETFs, the China Fund newspaper reported Tuesday, citing brokerage estimates. The purchases may be focused on ETFs tracking technology-stock indices, which comes in line with regulators’ support of innovation, it said, citing Huachuang Securities Co. analysis.
China’s sovereign wealth fund bought exchange-traded funds on Monday, expanding its purchases beyond bank shares as authorities step up attempts to boost the country’s slumping stock market.
Central Huijin Investment Ltd., a unit of the US$1.4 trillion ($1.92 trillion) wealth fund China Investment Corp. that’s long served as the main vehicle for China’s holdings in state-run banks, bought an undisclosed amount of ETFs and vowed to keep increasing its holdings, it said in a brief statement late Monday.
