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在线翻译:
szdaily -> Business/Markets -> 
Temasek’s China exposure surpasses Singapore
    2020-09-09  08:53    Shenzhen Daily

TEMASEK Holding Pte’s holdings in China surpassed its home market of Singapore for the first time following gains in companies including Alibaba Group Holding Ltd., according to the state investor’s annual report.

Temasek’s exposure to China rose to 29 percent of assets as of March 31, compared with 24 percent for Singapore, the lowest exposure for its home market since the company was formed in 1974.

The firm’s biggest local holdings, from Singapore Telecommunications Ltd. to DBS Group Holdings Ltd., saw their valuations tumble this year as COVID-19 hit global markets.

The investment giant has been adding to assets in China despite the rising risk of a political and economic decoupling from the United States. Its exposure to China, which includes stakes in Industrial and Commercial Bank of China Ltd. and Meituan Dianping, compares with 17 percent in North America and 10 percent in Europe.

“We are optimistic on China over the medium term,” said Yeoh Keat Chuan, senior managing director, enterprise development, adding he expects government stimulus to support the recovery and jobs.

BlackRock Inc. and Temasek in August received approval to jointly build an asset management business in China with China Construction Bank Corp., the latest of several pushes by the Singaporean investor into the country’s financial services industry.

(SD-Agencies)

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