The comments by Lou Jiwei, the chairman and chief executive of the China Investment Corporation are the clearest signal yet that after sustaining heavy losses on initial investments in Blackstone Group, Morgan Stanley and Barclays, state-run Chinese institutions have no appetite for further purchases in this sector.

“Right now we do not have the courage to invest in financial institutions because we do not know what problems they may have,” Mr. Lou said as part of a panel discussion on the second and final day of the Clinton Global Initiative conference here.....

See complete text at: http://www.nytimes.com/2008/12/04/business/worldbusiness/04yuan.html?hp