China wealth fund eyes Asia "as Western protectionism rises"

BEIJING (Reuters) - China's sovereign wealth fund will focus more of its $482 billion (303 billion pounds) firepower on Asia in twin bids to beat a rise in protectionism in the West and boost exposure to rapid regional growth, chairman and chief executive Lou Jiwei said. The man charged with stewardship of a slice of the world's largest store of foreign wealth lauded the British approach to overseas investment in public sector projects as one for the world to follow and said the policy response to Europe's debt crisis was a reason to stay underweight bonds and stocks there. ...