Reporters' Log

CIC to increase investment in all classifications

By Wang Xu and Zhang Ran (chinadaily.com.cn)
Updated: 2009-03-09 14:05

China Investment Corp (CIC), the nation's $200 billion sovereign wealth fund, will increase its investment in all classifications since the global financial crisis has caused many asset prices to drop, CIC's Vice-General Manager Wang Jianxi said Monday on the sidelines of the 11th Chinese People's Political Consultative Conference (CPPCC).

The investments will include equity, fixed-income products and alternative investments, Wang said. Ninety percent of CIC's current investment portfolio consists of assets with high liquidity, including cash and cash equivalents such as treasury bonds and bank notes.

CIC made an annual return of 5 percent in 2008, whereas a number of sovereign funds have seen their asset holdings shrink from the financial crisis.

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