China has taken a 'huge stride' in its march to Western-style captialism', said James Harding in The Times.'
The move highlights China's interset in new kinds of investment and is set to 'change' the dynamics of its relationship with America.
Beijing's move is a 'political master stroke', said Lex in the FT. Investing some if its reserves in a US firm tempers fears that diversifying into riskier assets will hurt the dollar, while holding part of America's top private equity groups demonstrates a willingness to engage with the US and should ensure ' a warmer reception next time it goes shopping in the US.'