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US and European funds step up investment in Chinese stocks

CalSTRS says Alibaba and Tencent now among its top 10 equity holdings

Wall Street investors are increasing Chinese holdings as the country bounces back quickly from the pandemic.   © Reuters

NEW YORK -- American and European institutional investors, including pension funds, are moving away from Japanese stocks and accelerating a shift into Chinese companies, as China stages a faster recovery than the rest of the world from the COVID-19 pandemic.

The California State Teachers' Retirement System, better known as CalSTRS, is one such investor. Christopher Ailman, chief investment officer of America's second largest public pension fund, recently said that the company's focus was on two "Cs" -- climate change and China.

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