Sovereign funds... How does the Chinese Communist Party finance its global ambitions?

“A fascinating insight into the evolution of Chinese fiscal policy and its strategic investments using leveraged foreign exchange reserves.” - Diane Coyle, Enlightened Economist “\[Liu\] explains that Chinese sovereign funds are so different from more well-known SWFs, such as those of the governments of Abu Dhabi and Norway, that she prefers to call them 'leveraged SWFs'... These various devious tricks, which Liu tracks Brilliantly, it produces “hidden reserves.” -Andrew J. Nathan, _Foreign Affairs Magazine_ “Follow the money, discover the politics...Liu shows how China has created an entirely new class of sovereign wealth funds.” -_The Times of India_ One of the keys to China's global rise was its strategy of using its sovereign wealth to support state power. Since President Xi Jinping took office in 2013, China has redoubled its efforts to manage its financial resources, smartly investing the money it has earned by tapping into its foreign exchange reserves. “Sovereign Funds” tells the story of how the Chinese Communist Party became a global financier with unspeakable ambitions. Zhongyuan's Zoe Liu provides a comprehensive, up-to-date analysis of the evolution of China's sovereign funds, including the China Investment Corporation, the State Administration of Foreign Exchange, and the Central Huijin Investment Corporation, showing how these institutions have become mechanisms not only for converting low-yielding foreign exchange reserves into investment capital, but also for extending influence. Sovereign funds are key drivers of national interest, shaping global markets, advancing the historic Belt and Road Initiative, and directing state assets into strategic industries such as semiconductors, fintech, and artificial intelligence. Liu reveals how the Chinese Communist Party is at the forefront of both foreign exchange reserve investment and economic management, using state capital to encourage domestic economic activity and build global spheres of influence.