Read more on this subject: China
News Story Source: https://www.zerohedge.com, By Tyler Durden
A few days after we reported that the investment vehicle of Sweden's most powerful family, the Wallenbergs, has begun preparations for the next global crisis, concerns about the future have spread to one of China's largest state-backed asset manager which runs about HK$139 billion ($18 billion) in assets, and which said it was preparing to sell shares in as many as 30 stocks on concern that valuations worldwide have peaked.
There are 20 to 30 companies in China Everbright's global portfolio that are ripe for exit after they went through initial public offerings, Chief Executive Officer Chen Shuang said in an interview in Hangzhou on Tuesday according to Bloomberg. And alhough he didn't specify which stocks Everbright would sell out of, Chen said the company is planning to make its exits "as soon as possible."
"We will be actively disposing of assets and be prudent about new investments," Chen said. "Global markets including
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