Shanghai’s city government is setting up a financial investment company with about $1bn.

The new agency, to be called Shanghai Financial Holdings, follows moves by the central government in Beijing to promote overseas investment through the newly established China Investment Corporation and the National Social Security Fund.

The agency will also manage financial assets transferred from Shanghai International Group, the provincial government’s existing holding company, which is being split into two.

I opened up People's Daily today and was surprised to learn that my cat will be starting his own investment fund, with a quite narrow focus: targets will be limited to companies involved in the online trading of fish and chicken parts. And maybe catnip. He says that he would like to concentrate on Beijing and Shanghai to start with and will most likely stay away from opportunities in Guangdong – he's always been a little scared of Guangdong for some reason, saying it is not very cat friendly.

Sure, it's only a couple hundred million RMB to start with, but my cat was quoted as saying that he had a really great feeling about the chicken parts market, and catnip is always a reliable investment.

He's looking for a good fund manager now. Not much experience in the local feline community, but he's willing to consider CVs from other species if the candidate has a strong background and can use a litter box.