Beijing put the brakes on a plan by its investment arm, China Development Bank, to invest $2 billion in Citigroup. No surprise. Earlier this year, China Investment Corporation made a $5 billion investment in Morgan Stanley (which as I've discussed in this blog has done very poorly), and as part of its 2007 IPO, Blackstone solicited and obtained a $3 billion investment from China (which is worth less than $2 billion today).
Source: Marketwatch
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