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The Chinese government's investment agency, being formed to invest a portion of China's staggering $1.07 trillion in foreign exchange reserves, will reportedly have enough money in it to buy a company the size of Wal-Mart or Citigroup outright.
While no one expects the agency to pursue such a target, the reported $200 to $300 billion in funds to be available give a sense of the investment vehicle's size.
China's president is in Russia to boost diplomatic and economic ties. CNN's Jaime FlorCruz reports.
Data provider Private Equity Intelligence forecasts $450 to 500 billion will be raised this year. China's agency, expected to be functioning by the end of the year, could increase that amount 60 percent.
"That amount represents the single-largest pool of cash that any government has thrown at anything, ever," according to Stratfor, a geopolitical intelligence service. "Adjusted for inflation, the United States' largest effort, the Marshall Plan, comes in at just over $100 billion."
Since the Chinese government made the announcement in early March, it's offered scant details on the venture - in part because it's still being put together.
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