Canadian pension fund CDPQ puts brakes on China investment


Pullback follows similar decisions by GIC and Ontario Teachers’ Pension Plan. 6park.com
在此之前，新加坡政府投资公司放慢了在华直接投资的步伐，加拿大的安大略省教师养老金计划也表示将暂停在华直接投资。



A top Canadian pension fund has put the brakes on its investment in China, making it the latest western investor to pull back from the country amid rising geopolitical tensions. 6park.com
一家加拿大顶级养老基金叫停了在中国的投资，成为在地缘政治紧张局势加剧之际从中国撤出的最新一家西方投资者。 6park.com
   
Caisse de dépôt et placement du Québec (CDPQ), the C$400bn global investment group, has stopped making private deals in China and is closing its Shanghai office, according to people familiar with the matter. 6park.com
据知情人士透露，规模达4000亿加元的魁北克储蓄投资集团(CDPQ)已停止在中国从事私募投资，这家全球投资集团还将关闭其上海办事处。 6park.com
   
The fund — which manages money on behalf of pension and insurance plans — is following other large investors in dialling back their activity in the world’s second-largest economy. 6park.com
这家替养老金和保险计划管理资金的基金正追随其他大型投资者的脚步，减少在全球第二大经济体中国的投资活动。 6park.com
   
Singapore’s sovereign wealth fund GIC has slowed the pace of its direct investments in China, while Ontario Teachers’ Pension Plan said in January that it had paused future direct investments in the country. 6park.com
新加坡的主权财富基金新加坡政府投资公司(GIC)放慢了在华直接投资的步伐，而加拿大的安大略省教师养老金计划(Ontario Teachers' Pension Plan)今年1月表示，已暂停未来在中国的直接投资活动。 6park.com
   
CDPQ is closing its Shanghai office later this year and is now leading its regional investment efforts from Singapore. It still has interests in China, including Hong Kong-based supply chain compliance solutions business Qima. 6park.com
魁北克储蓄投资集团将于今年晚些时候关闭其上海办事处，目前由新加坡负责该地区的投资业务。该公司在中国仍有业务，包括总部位于香港的供应链管理解决方案公司启迈(Qima)。 6park.com
   
“We paused private investments for some time already — and have focused on liquid markets, which is the majority of our 2 per cent total portfolio exposure to China. We expect this trend to continue,” CDPQ said in a statement. 6park.com
“我们暂停私募投资已经有一段时间了，此后一直专注于流动性充足的市场，在占比2%的我们的中国资产投资组合中，绝大部分属于此类市场。我们预计这一趋势将持续下去。”魁北克储蓄投资集团在一份声明中表示。 6park.com
   
The fund’s decision comes less than two years after CDPQ’s chief executive, Charles Emond, said that the pension giant was planning to increase its exposure to China from about 4 per cent of its overall portfolio to as much as 10 per cent in the years to come. 6park.com
不到两年前，魁北克储蓄投资集团首席执行官夏尔•埃蒙(Charles Emond)曾表示，这家养老金巨头计划在未来几年将中国资产在其整体投资组合中的比例从4%左右提高至10%。 6park.com
   
Since then, relations between Beijing and the west have continued to deteriorate. 6park.com
自那以来，北京方面与西方的关系持续恶化。 6park.com
   
In recent months, China has cracked down on consultancy firms, rattling western companies that rely on their advice, and banned operators of critical infrastructure from buying US chipmaker Micron Technology’s products.  6park.com
近月来，中国整顿了多家咨询公司，令依赖这些公司提供意见的西方企业紧张不安，中国还禁止关键基础设施运营商购买美国芯片制造商美光(Micron Technology)的产品。 6park.com
   
In return, the US has made it more difficult for China’s tech sector to access cutting-edge components and machinery. The US government is also weighing imposing restrictions on outbound investment into China. 6park.com
作为回应，美国使中国科技产业更难获取尖端零件和设备。美国政府还在考虑限制对中国的投资。 6park.com
   
Business leaders are carefully navigating their relationship with China as the country reopens following the coronavirus pandemic. Several high- profile foreign executives, including Elon Musk, the chief executive of Tesla, and Jamie Dimon, the chair and chief executive of JPMorgan, have made recent visits to the country. 6park.com
随着中国在新冠疫情后重新开放，商界领袖正在小心试探与中国的合适关系。多位知名外国企业高管，包括特斯拉(Elon Musk)首席执行官埃隆•马斯克(Tesla)和摩根大通(JPMorgan)董事长兼首席执行官杰米•戴蒙(Jamie Dimon)，最近都访问了中国。 6park.com
   
But Dimon did warn of the risk for investor confidence of “uncertainty” about the Chinese government’s policies, as manufacturing data showed that the recovery in the world’s second-largest economy is faltering. 6park.com
但戴蒙也警告称，中国政府政策的“不确定性”可能动摇投资者信心。当前的制造业数据显示这个世界第二大经济体的复苏磕磕绊绊。 6park.com
   
Private equity firms in particular could face a reckoning over the close ties they have built to China. Some Chinese state-backed investors, such as the State Administration of Foreign Assets and China Investment Corporation, have poured money into dozens of western buyout groups, the Financial Times has reported. 6park.com
私募股权公司尤其可能因为它们与中国的紧密联系而面临清算。根据英国《金融时报》最近的报道，一些中国政府背景的投资者，例如中国国家外汇管理局(SAFE)和中国投资有限责任公司(CIC)，都向数十家西方收购集团投入了大量资金。 6park.com
   
The close relationship between private equity and the Chinese state has become increasingly at odds with the shifting political mood in western capitals, where governments have become much more vigilant about the potential for Chinese influence over strategic industries. 6park.com
西方国家的政治氛围正在发生变化，西方政府如今更加警惕中国对战略产业的潜在影响，在这样的氛围中，私募股权与中国政府的紧密联系越来越显得格格不入。 6park.com
   
Those deals are also starting to attract political scrutiny because they have created ties between Beijing and western economies that could be nearly impossible to pick apart. 6park.com
这类业务往来也开始引起政治审视，因为它们在北京方面与西方经济体之间创造了几乎不可能切断的纽带。