Canada’s second-largest pension fund, Caisse de dépôt et placement du Québec (CDPQ), has stopped making private deals in China. It’s also set to close its Shanghai office this year, according to the Financial Times.
The decision follows a parliamentary hearing on May 8 where several Canadian pensions were asked about their relationship with China, as political tensions between the two countries rise.
Despite the news, the fund hasn’t cut off China entirely.