Chinese to invest in Irish funds in landmark deal

CHINESE cash could soon be flooding through the International Financial Services Centre after a landmark financial deal was unveiled yesterday.

Watchdogs in the two countries agreed to allow Chinese investors to pump money into Irish domiciled funds in what is being hailed as a significant boost for the Republic’s battered financial sector.

The move allows Irish-managed and administered funds to tap into one of the world’s largest pools of private capital — and an economy fairing better than most in the global credit crisis.