China Faces Public Backlash as Blackstone Investment Backfires – Keith Bradsher

The International Herald Tribune gives an update on the Blackstone deal:

The first purchase by the Chinese ’s new fund, a $3 billion stake in the Blackstone Group, has backfired badly and produced an unusual backlash within .

Blackstone shares have fallen steeply since the went public June 22, pushing down the value of the government’s by more than $500 million in just six weeks. and even some Chinese financial media have frequently mentioned the dwindling value of the government’s stake, and some have been highly critical. [Full text]

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