The Hong Kong Investment Corp. (HKIC), a government-owned investment operation created last October, is actively selecting potential projects and is expected to begin pouring money into them by year-end, said King Leung, head of financial technology at InvestHK.
The investment arm, viewed as the special administrative region's parallel to Singapore's Temasek Holdings, will not only invest directly from its $62 billion Hong Kong dollars ($7.91 billion) of funds but also plans to place money with selected partners from more than 40 other funds, which will then make direct investments. Only investments of more than $100 billion will be direct placements, Leung said.
