The latest Hurun Global Rich List reveals that 1,453 people worldwide have a personal wealth of US$1 billion or more as of January 17, 2013. The U.S. and China share half of the world's billionaires, with 408 and 357 respectively, followed by Russia, Germany and India.
CIC (China Investment Corporation) signed a MOU with RDIF (Russian State Direct Investment Fund) to set up a joint USD2-4bn private equity fund.
Chinese-Russian Private Equity Fund's target size may reach USD4bn, with CIC and RDIF contributing USD1bn each, the rest is supposed to come from other private equity investors.
Chinese mainland brokers and underwriters have called for regulatory support for their overseas expansion as they seek to become more competitive with leading global investment banks. After learning from the failure of foreign investment banks during the global financial crisis, Chinese securities companies are ready to set foot abroad, said Yin Ke, head of the International Cooperation Committee of the Securities Association of China.