NEW YORK -- China has joined the ranks of Singapore, Norway and the United Arab Emirates as nations that have purchased big chunks of Wall Street.

In the wake of a $9.4 billion writedown related to subprime mortgage losses, Morgan Stanley (MS: 50.08, -0.01, -0.01%) said Wednesday it has accepted a $5 billion investment from the Chinese government’s investment company China Investment Corporation (CIC). The investment gives CIC a 9.9% stake in the firm.