\nFrom the New York Times:\n<\/p>\n
\nThe Chinese government said yesterday that it would acquire a $3 billion stake in the Blackstone Group, the private equity firm, in the country’s first effort to diversify its $1.2 trillion in foreign-exchange reserves beyond United States Treasury bills and into commercial enterprise.<\/p>\n
The deal, which is set to coincide with Blackstone’s $4 billion initial public offering<\/a> this year, will give China a roughly 8 percent stake in Blackstone, which owns companies that have 375,000 employees and $83 billion in annual sales. [Full text]<\/a>\n<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
From the New York Times: The Chinese government said yesterday that it would acquire a $3 billion stake in the Blackstone Group, the private equity firm, in the country’s first effort to diversify its $1.2 trillion in foreign-exchange reserves beyond United States Treasury bills and into commercial enterprise. The deal, which is set to coincide […]<\/p>\n","protected":false},"author":33,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[116,2],"tags":[4915,2260],"class_list":["post-12814","post","type-post","status-publish","format-standard","hentry","category-world","category-economy","tag-blackstone","tag-foreign-currency-reserves","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n
China to Buy a Stake in Blackstone - Andrew Ross Sorkin & David Barboza<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2007\/05\/china-to-buy-a-stake-in-blackstone-andrew-ross-sorkin-david-barboza\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China to Buy a Stake in Blackstone - Andrew Ross Sorkin & David Barboza\" \/>\n<meta property=\"og:description\" content=\"From the New York Times: The Chinese government said yesterday that it would acquire a $3 billion stake in the Blackstone Group, the private equity firm, in the country’s first effort to diversify its $1.2 trillion in foreign-exchange reserves beyond United States Treasury bills and into commercial enterprise. 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