China International Fund

China International Fund (CIF) is a Chinese-owned group of Hong Kong investors that describes its major businesses as including "large-scale national reconstruction projects and infrastructure construction in developing countries".[1] The CIF and its associated companies in Hong Kong and Singapore invested upwards of $US 20 billion mainly in unstable African dictatorships.[2] They have made agreements with the Angolan and Guinean governments to explore for various resources in those countries. These agreements will result in billions of dollars of money being invested in the two countries.[3][4] The Company is under the suspicion of being a state-owned company because "key personnel have ties to Chinese state-owned enterprises and government agencies."

Structure

The United States-China Economic and Security Review Commission issued a report in July 2009 on investments of Dayuan, CIF and its subsidiaries in Africa, Latin America and the U.S.A.. China International Fund is owned to 99% by Dayuan International Development, which has about 30 subsidiaries. The report called these companies the "88 Queensway Group", after the Hong Kong address for headquarters of most subsidiaries. Files about the CIF does not give hard evidence of government ownership. On the other hand, Chairwoman Lo Fong Hung is director of Sonangol Sinopec International Ltd., a joint venture between the state-owned oil companies Sinopec of China and Sonangol of Angola. A CIF director, Wu Yang, was a vice chairman of Sinopec in a March 2006 U.N. report. It is believed that Sam Pa is President of the CIF.

Angola

In a conversation between American Ambassador Dan Mozena and Chinese Ambassador Bolum Zhang, Zhang said, "the CIF made many promises to Angola, and that while the company has a large presence in Angola, its weak management and lack of leadership have stalled many of the projects. Zhang said that as the CIF is a 'private company,' the Chinese embassy does not actively participate or monitor its relationship with Angola. He added that CIF continues to benefit from the Hong Kong-based owner's 'close relationship' with President Dos Santos."[5] It was involved in the construction of the Angola International Airport.

Guinea

In October 2009, the military junta that ruled Guinea made a mining-and-infrastructure deal with China International Fund. CIF planned to invest at least $US 7 billion in a partnership to develop the country's mining of mineral resources, including diamonds, iron ore, oil and especially bauxite.[6] In September 2011, Mohamed Lamine Fofana, the Mines Minister following the 2010 election, said that the government had overturned the agreement.[7]

Literature

References

  1. ^ "China International Fund Limited". China International Fund Limited.
  2. ^ John Garnaut: State or mate? Who's behind China fund? The Sydney Morning Herald, March 17, 2010, Retrieved 2010-12-19.
  3. ^ "Guinea and China 'agree big deal'". BBC News. 13 October 2009. Retrieved 2009-10-14.
  4. ^ "Bellzone shares soar on China rail, port deal". Reuters. 2010-05-24.
  5. ^ WikiLeaks: cablegate, cable 2009-01-27 (ID: 09LUANDA51) NEW CHINA CREDIT LINE UNDER CONSIDERATION, Retrieved 2012-05-15.; Rafael Marques: The New Imperialism: China in Angola, World Affairs, March/April 2011, Retrieved 2012-05-15.
  6. ^ Shai Oster: "China Fund's $7 Billion Deal With Guinea Draws Scrutiny", Wall Street Journal, November 2, 2009 [1], Retrieved 2010-12-19.
  7. ^ "Guinea mining: PM defends radical industry shake-up". BBC. 14 September 2011.

External links

23 Wall Street

23 Wall Street or "The Corner", is an office building formerly owned by J.P. Morgan & Co. – later the Morgan Guaranty Trust Company – located at the southeast corner of Wall Street and Broad Street, in the heart of the Financial District in Manhattan, New York City.

The building was designated a New York City landmark in 1965, and was added to the National Register of Historic Places in 1972. Since it was purchased in 2008 by interests associated with the billionaire industrialist Sam Pa, it has been left in a state of disuse.

Air Guinee International

Air Guinee International was a planned airline based in Conakry, Guinea. Created in partnership between the Government of Guinea and the China International Fund. Air Guinée International should offer regular flights in the neighboring region. The company overtook Boeing 737-300 family aircraft using European safety standards (JAR-OPS). But, however, the airline did not commence operation.

Ancar

Ancar (Ancar Automóveis de Angola, SA) is a private company in Angola which was founded in 2001 to put a joint venture with Škoda Auto in place and to establish a car assembly line in Angola. Ancar was regarded as a front company of Ancar World Wide Investments Holding, a company with dubious financial European capital, registered in the USA. Today Ancar Angola now does not exist anymore and the project was ceased from both sides, from the German as well as the Angolan side. There were serious corruption allegations against the main responsibles.

Angola

Angola ( (listen); Portuguese: [ɐ̃ˈɡɔlɐ]), officially the Republic of Angola (Portuguese: República de Angola; Kikongo, Kimbundu and Umbundu: Repubilika ya Ngola), is a west-coast country of south-central Africa. It is the seventh-largest country in Africa, bordered by Namibia to the south, the Democratic Republic of the Congo to the north, Zambia to the east, and the Atlantic Ocean to the west. Angola has an exclave province, the province of Cabinda that borders the Republic of the Congo and the Democratic Republic of the Congo. The capital and largest city of Angola is Luanda.

Although inhabited since the Paleolithic Era, what is now Angola was molded by Portuguese colonisation. It began with, and was for centuries limited to, coastal settlements and trading posts established starting in the 16th century. In the 19th century, European settlers slowly and hesitantly began to establish themselves in the interior. The Portuguese colony that became Angola did not have its present borders until the early 20th century because of resistance by groups such as the Cuamato, the Kwanyama and the Mbunda.

After a protracted anti-colonial struggle, independence was achieved in 1975 as the Marxist–Leninist People's Republic of Angola, a one-party state supported by the Soviet Union and Cuba. The civil war between the ruling People's Movement for the Liberation of Angola (MPLA) and the insurgent anti-communist National Union for the Total Independence of Angola (UNITA), supported by the United States and South Africa, lasted until 2002. The sovereign state has since become a relatively stable unitary, presidential constitutional republic.

Angola has vast mineral and petroleum reserves, and its economy is among the fastest-growing in the world, especially since the end of the civil war; however, the standard of living remains low for most of the population, and life expectancy in Angola is among the lowest in the world, while infant mortality is among the highest. Angola's economic growth is highly uneven, with most of the nation's wealth concentrated in a disproportionately small sector of the population.Angola is a member state of the United Nations, OPEC, African Union, the Community of Portuguese Language Countries, and the Southern African Development Community. A highly multiethnic country, Angola's 25.8 million people span tribal groups, customs, and traditions. Angolan culture reflects centuries of Portuguese rule, in the predominance of the Portuguese language and of the Catholic Church.

Angola International Airport

Angola International Airport (Aeroporto Internacional de Angola in Portuguese) is a major airport project on the way since 2004 near the Angolan capital of Luanda. The site is some 40 km southeast of the city center in the Bom Jesus commune in Ícolo e Bengo municipality in the Luanda Province and will be an alternative to the existing Quatro de Fevereiro International Airport. Construction of the new airport is in the hands of a consortium of Chinese companies and Brazilian company Odebrecht. The first phase of the project was completed even in 2012 and the opening was originally scheduled for 2015/2016 but it is currently not reported to open until 2019 or 2020.

Benguela railway

The Benguela railway (Portuguese: Caminho de Ferro de Benguela (CFB)), also called the Katanga-Benguela railway, is a cape gauge railway line that runs through Angola from west to east, being the largest and most important modal of the type in the country. It also connects to Tenke, in Democratic Republic of the Congo, to the Katanga railway.

Its logistical facility is the port of Lobito, on the Atlantic coast, from where it exports all types of products, from minerals (from Copperbelt region), food, industrial components, live loads, etc.

His company that explores it in the Angolan section of Lobito to the Luau, is the Empresa do Caminho de Ferro de Benguela-E.P.. From Dilolo to Tenke is run by the Société nationale des Chemins de fer du Congo.

Guinea

Guinea ( (listen)), officially the Republic of Guinea (French: République de Guinée), is a west-coastal country in West Africa. Formerly known as French Guinea (French: Guinée française), the modern country is sometimes referred to as Guinea-Conakry in order to distinguish it from other countries with "Guinea" in the name and the eponymous region, such as Guinea-Bissau and Equatorial Guinea. Guinea has a population of 12.4 million and an area of 245,860 square kilometres (94,927 sq mi).The sovereign state of Guinea is a republic with a president that is directly elected by the people and is head of state and head of government. The unicameral Guinean National Assembly is the legislative body of the country, and its members are also directly elected by the people. The judicial branch is led by the Guinea Supreme Court, the highest and final court of appeal in the country. The country is named after the Guinea region. Guinea is a traditional name for the region of Africa that lies along the Gulf of Guinea. It stretches north through the forested tropical regions and ends at the Sahel. The English term Guinea comes directly from the Portuguese word Guiné, which emerged in the mid-15th century to refer to the lands inhabited by the Guineus, a generic term for the black African peoples below the Senegal River, as opposed to the 'tawny' Zenaga Berbers, above it, whom they called Azenegues or Moors.

Guinea is a predominantly Islamic country, with Muslims representing 85 percent of the population. Guinea's people belong to twenty-four ethnic groups. French, the official language of Guinea, is the main language of communication in schools, in government administration, and the media, but more than twenty-four indigenous languages are also spoken.

Guinea's economy is largely dependent on agriculture and mineral production. It is the world's second largest producer of bauxite, and has rich deposits of diamonds and gold. The country was at the core of the 2014 Ebola outbreak. Human rights in Guinea remain a controversial issue. In 2011 the United States government claimed that torture by security forces, and abuse of women and children (e.g. female genital mutilation) were ongoing abuses of human rights.

Kommunarskaya line

The Kommunarskaya line (Russian: Коммунарская ли́ния) (Line 16) is a planned line of the Moscow Metro that will initially extend to the settlement of Kommunarka in the Novomoskovsky Administrative Okrug, or New Moscow. Future expansion plans could extend the line to the town of Troitsk. The city plans to begin construction on the line in 2018.

Luanda

Luanda, formerly named São Paulo da Assunção de Loanda, is the capital and largest city in Angola, and the country's most populous and important city, primary port and major industrial, cultural and urban centre. Located on Angola's coast with the Atlantic Ocean, Luanda is both Angola's chief seaport and its administrative centre. It is also the capital city of Luanda Province and the most populous Portuguese-speaking capital city in the world.

The city is currently undergoing a major reconstruction, with many large developments taking place that will alter its cityscape significantly.

Luanda Railway

The Luanda Railway (sometimes called Angola Railway) is a 424 km single-track Cape gauge railway line from the Angolan capital of Luanda to Malanje. A branch line departs the railway at Zenza do Itombe for Dondo. The line is operated by the state owned company Caminho de Ferro de Luanda E.P., short CFL EP.

Sam Pa

Sam Pa is believed to be the head of the 88 Queensway Group and numerous subsidiary companies that operate mining and resource concessions in a number of countries notably across Africa. Pa has also been the subject of controversy, allegedly propping up Robert Mugabe's ZANU-PF regime in Zimbabwe and securing business contacts on the back of a coup d'état in Madagascar and civil unrest in Guinea.

Shanghai International Group

Shanghai International Group (SIG) (上海国际集团有限公司) is a large state owned financial holding group of People's Republic of China. SIG has full financial licenses in China and engaged in Commercial Banking, Investment Banking, Mutual Fund, Insurance, Private Equity, Trust, Assets Management, etc. As of the end of 2012, according to the equity method accounting, the total assets on SIG’s consolidated financial statements were RMB 129.723 billion yuan, the net assets RMB 89.756 billion yuan, and the total profit RMB 12.367 billion yuan. The data relevant to SIG’s controlling and core investments shows that the assets managed by SIG had reached RMB 1118.487 billion yuan by the end of 2012.

Viana, Luanda

Viana is a town and one of the seven municipalities that make up the province of Luanda, as per the new administrative division of the province (the others being, Belas, Cazenga, Cacuaco, Icolo e Bengo and Quiçama). Viana lies 15 to 30 kilometers east as a suburb of the capital Luanda and is home to 68.000 inhabitants including about 6,000 long-term refugees, primarily from Katanga Province in the Democratic Republic of the Congo. Viana is about a 90-minute drive from downtown Luanda.

The town was founded on 13 December 1963. Because of the proximity to the metropolitan city, Viana has experienced in recent years a very large increase in population and industry.

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