China's new sovereign wealth fund has roughly $67bn (€46bn) to invest in the global financial markets, but unlike similar funds set up by Dubai and Qatar it will adopt a cautious approach and will not look to buy controlling stakes in foreign companies.

China Investment Corp, the $200bn fund set up just over a month ago by the country, has roughly one third of the funds left to spend after buying an investment arm of China's central bank and recapitalising two of the country's other banks.