Goldman Sachs & China CIC Launch $5 Billion U.S. Manufacturing Fund

Goldman Sachs $GS  is partnering with the Chinese Sovereign Wealth Fund China Investment Corporation (CIC ) to invest $5 billion in American manufacturing WSJ is reporting via sources.

Goldman Sachs $GS  is partnering with the Chinese Sovereign Wealth Fund China Investment Corporation (CIC ) to invest $5 billion in American manufacturing WSJ is reporting via sources. The deal will be announced on Thursday during U.S. President Trump’s trip to China. Trump’s election platform focused on improving America’s manufacturing and also it’s trade position. This deal would be viewed as a success in that context.

China U.S. Investment

Part of the premise of the fund will be the U.S. companies it invests in being aided in expanding their market in China. 

News of the fund was first reported by the Wall Street Journal. Goldman Sachs declined to comment, while CIC did not immediately respond to a Reuters request for comment. Goldman’s Chief Executive Lloyd Blankfein will also be China at the same time as Trump as part of a business delegation being led by U.S. Commerce Secretary Wilbur Ross this week.

Source: WSJ https://www.wsj.com/articles/goldman-chinas-sovereign-wealth-fund-plan-up-to-5-billion-in-u-s-investments-1509963344

From The Traders Community Research Desk

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