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Excerpt from finimize.com
What’s going on here?
Power Corporation of Canada has closed its China investment unit, Power Sustainable Shanghai, laying off all 17 staff members in a strategic shift.
What does this mean?
Power Sustainable, managing $4.5 billion globally, is dropping its China public equity strategy due to the economic slowdown and rising geopolitical risks. Launched in 2019, the Shanghai unit served onshore and offshore clients through public equity investments. Despite the shutdown, Power Corp holds onto China’s public equity market via its Qualified Foreign Institutional Investor (QFII) license, enabling offshore investments without local operations. Plus, Power Corp retains a 27.8% stake in China