STOCKHOLM (Reuters) – The Norwegian sovereign wealth fund, one of the world’s largest investors, has begun a process to close its representative office in Shanghai, it said on Thursday.
It said in a statement its investments in China remained unchanged.
“The decision is driven by operational considerations and does not affect the fund’s investment strategy or our investments in China,” it said in a statement.
At the end of 2022 the fund’s investments in Chinese companies totalled around $42 billion.
The Norwegian fund’s global portfolio is currently worth around $1.4 trillion.
(Reporting by Anna Ringstrom, editing by Terje Solsvik)
