Norway SWF to shut China office, sees Singapore as 'recruiting hub'

Norway's Government Pension Fund Global, the world's largest sovereign wealth fund (SWF), has begun winding down operations at its China representative office in Shanghai. The decision is driven by “operational considerations” and is only “an adjustment of our operating business model”, a statement from Norges Bank Investment Management (NBIM) said. NBIM manages the operations of the wealth fund. The SWF had invested in about 850 Chinese companies with a total value of around $4…