Gates Foundation Invests Millions In Chinese State-Run Firms.

The Bill and Melinda Gates Foundation purchased over $20 million of stock in an investment fund principally backing Chinese state-owned companies. Among the companies included in the foundation’s sizable new holding – Morgan Stanley China A Share Fund Inc. – are state-owned banks, energy companies, and manufacturers. The Gates Foundation Trust took the position on August 23rd, purchasing 1,100,000 shares at an average price of $21. The largest holding in the fund is the state-owned commercial bank Industrial & Commercial Bank of China, which counts high-level Chinese Communist Party apparatchiks as its current and former executives. The partially state-owned China … Continue reading Gates Foundation Invests Millions In Chinese State-Run Firms.