The firm, which manages Norway’s $1.4 trillion government pension fund, is the world’s biggest single investor in the stock market. The decision to close its Shanghai office was driven by “operational considerations” and doesn’t affect the fund’s investments or its investment strategy in China, NBIM said in a statement on Thursday. There are currently eight people in the Shanghai office, the firm said. Norges Bank is the central bank of Norway. Ontario Teachers’ Pension Plan, one of the world’s largest pension funds, closed its Hong Kong-based China equity investment team earlier this year.

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Persons: NBIM, Odin Jaeger Organizations: Hong Kong CNN — Norges Bank Investment Management, Norges Bank, Bloomberg, Getty, Ontario, CNN, Forrester Research, Consulting Locations: China, Hong Kong, Shanghai, Asia, Singapore, Oslo, Norway, Norwegian