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in China in the future," Ding said. Temasek regards the finance sector, especially the banking industry, as the epitome of the real economy, representing the nation's potential and trend, according to Ding. "Although some risks now exist in the fast-developing Chinese banking industry, we are optimistic about the potential of the sector thanks to the solid foundation and driving force of the Chi-
nese economy," said Ding. Last month, the interbank money market suffered a cash squeeze causing the overnight rate of the Shanghai Interbank Offered Rate to soar. The potential crisis ended after the central bank said that it would ensure there would be sufficient liquidity in the market. Active measures have been taken by the Chinese government to tackle the expanding scale of
credit and a concentration on certain companies so it is necessary to make such an adjustment, Ding said. Temasek's holdings in China Construction Bank slipped to 8 percent from 10 percent in 2012 because of currency rate and market fluctuations. In addition to those in the finance industry, Temasek's acquisitions in China also include investments in Alibaba Group 13