Liu Xiaojie asked whether the model considered only applied to the financial assets of China's sovereign wealth funds (SWFs), or whether it could also be applied to different kinds of assets and countries as well.

Risto Herrala had an issue with the lack of a link in the model between the allocation of assets and the reasons underpinning that allocation. He cited the example of Norway where oil money flowing into the economy had the potential to be inflationary, which would affect the choice of where to allocate the assets. He thought the analysis was the motivation in the Chinese case, for example, whether there were long-term structural or cyclical reasons why they were allocating funds in the way the paper described.

Lars Oxelheim raised the possibility that an additional aim for China's SWFs is to acquire knowledge to facilitate the shift toward a service- oriented economy. He also wondered...

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