Norway’s sovereign wealth fund to close Shanghai office

STOCKHOLM (Reuters) – The Norwegian sovereign wealth fund, one of the world’s largest investors, has begun a process to close its representative office in Shanghai, it said on Thursday.

It said in a statement its investments in China remained unchanged.

“The decision is driven by operational considerations and does not affect the fund’s investment strategy or our investments in China,” it said in a statement.

At the end of 2022 the fund’s investments in Chinese companies totalled around $42 billion.

The Norwegian fund’s global portfolio is currently worth around $1.4 trillion.

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