Chinese plan $2 billion move into U.S. mortgage market


Flush with cash from a $585 billion stimulus plan that experts say is working well, China's $200 billion sovereign wealth fund is planning to make inroads into the U.S. mortgage market.

According to Reuters, the China Investment Corp. (CIC) plans to invest up to $2 billion in toxic U.S. property loans. The move is no surprise. Chinese investors have been snapping up depressed properties in America, lured by rock-bottom prices in many markets. Some even toured the U.S. in groups looking for investment opportunities.