Helen Bentley: “China's new goal of enticing the world's fund managers with offers of shares in 22 state-owned companies is meeting with…”

“China's new goal of enticing the world's fund managers with offers of shares in 22 state-owned companies is meeting with success. Last fall China attracted the heads of American corporate and municipal pension funds with $500 million for investment in China and Asian mutual funds. In that earlier meeting 100 of our biggest funds were matched up with 100 Chinese banking and financial ministers in a conference to plan how to take our pension fund money to use in building up China in what the organizers of the trip called 'The Last Frontier of Capital.' Most revealing about the intentions of both China and the managers was the title of the conference, which was billed as 'The Chinese Century--From Wall Street to the Great Wall.' A recent Wall Street Journal editorial had an interesting question about the drive to attract foreign wealth. It pointed out, 'It would be interesting to know what China's home-grown wealthy are doing with their own money. The data strongly hints that large sums are being funneled out of China without anybody knowing where they're going or whom they belong to.'”