A Chinese sovereign fund invests in Grand Paris
During Mr. Hollande’s visit to China, the French president has announced that the Chinese sovereign fund, the China Investment Corporation (CIC), will invest €1bn in the Grand Paris project, conducted in cooperation with the French Caisse des Dépôts et Consignations. For the Chinese sovereign fund, this investment would be the first made in Europe. Created in 2007, this fund’s purpose is to improve cooperation with Europe.
In this sovereign fund’s view, the Grand Paris thus represents an opportunity to further its cooperation plan. However, if we consider the Ile-de-France region’s wealth (3rd world largest urban GNP) this project is undeniably interesting from an economic perspective. The CIC has not yet specified which projects would benefit from this investment.