China may invest $13bn in Spain

CHINESE investors including the country’s sovereign wealth fund may inject $13bn (£8bn) into Spanish banks, a government source said yesterday after Spain’s Premier met financial authorities in Beijing.

Spanish Prime Minister Jose Luis Rodriguez Zapatero is visiting China and Singapore this week, promoting Spain’s sovereign bonds and its financial system as a good investment.

Chinese sovereign wealth fund China Investment Corporation was studying an investment of $9bn, and private entities might add an additional $4bn, the source said.