China Investment Corp, the country's $200bn (£123bn)

China's sovereign wealth fund has bought a stake in a Hong Kong-based commodities trading firm.
China Investment Corp, the country's $200bn (£123bn) fund, took a 15% stake in Noble Group in return for $850m.
The deal comes after China recently signed a pact with another commodity trader, Glencore, in an attempt to increase its influence in the sector.
China's rapid economic growth has made it one of the world's largest consumer of raw materials such as oil and steel.
Rising interest
Noble, whose shares are listed in Singapore, is one of the few publicly-listed commodity trading houses.
China's fund bought its shares at an 8% discount to Noble's last traded share price of 2.30 Singapore dollars.
Noble has investments in Australian coal, soybean crushing plants and sugar and ethanol mills in Brazil, among others.
In July, China Investment Corp paid $1.5bn for a 17% stake in Canadian miner Teck Resources Ltd.
"A lot of sovereign wealth funds or state-linked firms are increasingly showing interest in resources, so this is in line with the trend," said OCBC Securities analyst Lee Wen Ching. "Noble provides access to a diversified portfolio."
Sovereign wealth funds are the investment funds established by governments in Asia and the Middle East mainly, who have large surpluses of money which they wish to invest abroad.
Abu Dhabi has the largest fund, at $800bn, while Norway's is $400bn and Singapore has a $330bn sovereign fund.
China's fund was established in September 2007.

Loss-making carrier Japan Airlines (JAL) has asked for a government bail-out to help it survive.

Loss-making carrier Japan Airlines (JAL) has asked for a government bail-out to help it survive.
JAL president Haruka Nishimatsu made the requests after meeting Japan's new transport minister. He also proposed a more drastic restructuring.
The airline recently announced plans to cut 6,800 jobs.
JAL's shares had already tumbled 18% to a record low on rumours that it was seeking public money, or that it might seek to break up the company.
Tie-up hopes
"Ultimately, we think that the use of more funds will reduce our debts to the public," Mr Nishimatsu said.
He made the comments to reporters after meeting Transport Minister Seiji Maehara, who took over the role after the Democratic Party took charge of the government.
Mr Nishimatsu plans to apply for public funds under the industrial revitalisation law.
The law means that companies need to obtain approval from the government to restructure. They can then apply for loans from banks, which are backed by the Japanese government's wholly-owned Japan Finance Corp.
Media reports recently have said that several US and European airlines - including Air France-KLM, Delta Airlines and American Airlines - are in the running to take a stake in JAL and expand into Asia via code-sharing agreements.
Mr Nishimatsu said last week that he hoped JAL would have a deal in place with an international carrier by the middle of October.
Sector suffers
The airline industry as a whole has suffered in the global downturn, hit by a combination of falling passenger numbers and high oil prices.
The International Air Transport Association (Iata) has increased its forecast for losses across the whole industry to $11bn for 2009, from the $9bn it predicted earlier this month.
Airlines have already lost $6bn in the first half of the year alone, Iata said, with Asian airlines among the hardest hit.
In the Asia-Pacific region, Iata predicts airlines will report losses of $3.6bn for 2009.

Russia's largest carmaker

Russia's largest carmaker, Avtovaz, is to cut up to 27,600 jobs as it tries to cope with the global slump in demand.
The job cuts are more than a quarter of the 102,000-strong workforce at Avtovaz, which makes Lada cars.
Reports had suggested that 36,000 job losses were considered, but the company said that it managed to "significantly lower the initial figure".
Russia had the fastest growing car market in Europe until the financial crisis hit demand.
Overhaul
"Today, 102,000 people work at Avtovaz," the carmaker said.
"Such a number cannot guarantee effective and profitable production, therefore we have agreed to reduce the personnel by 27,600 people."
This includes 5,000 job cuts in "white collar" jobs announced last week, it said.
Of the workers being eliminated, Avtovaz said 13,000 employees would retire with pensions while another 5,500 would be forced to take early retirement.
The remaining 9,100 employees would leave the firm, but Avtovaz said 6,000 of those would have the option to work at the carmaker again in 2012.
Sales have dropped 40% this year as consumers, hard hit by the financial crisis, have shunned the carmaker.
Production freezes
Avtovaz, which is 25%-owned by French automaker Renault, had imposed month-long production freezes while it tried to reduce levels of its unsold stock.
No cars were built in August and the plant will work two weeks in four from September to February, which meant that the workers will have to survive for six months on half pay of $300 (£176) a month.
The decision led to large worker protests.
The carmaker was set up with Italy's Fiat during the Soviet years.
It is a key employer in the southern city of Togliatti based by the Volga River, which has a population of 700,000.
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