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China expands UK stake in London stock

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China’s central bank has jumped into the London stock market to acquire a larger stake in the UK amid growing economic tensions between Beijing and the West.

An analysis by The Sunday Telegraph shows that the People’s Bank of China currently owns US$17.1 billion worth of UK stocks, including a majority stake in FTSE 100. Exposure has increased dramatically over the past few weeks. The total value of its holdings in the second quarter of this year was less than $2 billion.

The bank owns more than 1.5% of BP and Royal Dutch Shell and holds the fourth largest share of Class A shares. It also owns more than 1% of Vodafone, BHP and Anglo American, according to data from Bloomberg.

In total, it has shares in more than 100 UK companies, with particular exposure to energy stocks, which account for about a quarter of London holdings. The materials sector accounts for an additional 16pc.

But at a time of escalating tensions over China’s actions in Hong Kong and Taiwan and its treatment of minority Muslims, the company’s buying craze has blown. Britain has joined allies to limit the use of Chinese telecommunications equipment, and ministers are now grappling with ways to replace China’s investment in new nuclear power plants.

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2/ https://www.telegraph.co.uk/business/2021/09/11/china-boosts-stake-uk-london-shares-spree/

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