CIC profitable
By Lydia Chen |
July 27, 2011, Wednesday
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Print Edition
Print Edition
CHINA Investment Corp earned 11.7 percent from its overseas investments last year, the same level as in 2009, the country's sovereign wealth fund said yesterday.
CIC, whose assets have grown to US$332 billion at the end of 2009, said its accumulated annual profit gains from investments globally in the past three years were 6.4 percent, although in 2008, the first year it started operations, it lost 2.1 percent of its investments, it said in its earnings report.
The Beijing-based company, which is responsible for managing part of China's more than US$3.2 trillion foreign exchange reserves, increased its investments in equities, real estate and infrastructure projects last year, according to the annual report.
CIC, whose assets have grown to US$332 billion at the end of 2009, said its accumulated annual profit gains from investments globally in the past three years were 6.4 percent, although in 2008, the first year it started operations, it lost 2.1 percent of its investments, it said in its earnings report.
The Beijing-based company, which is responsible for managing part of China's more than US$3.2 trillion foreign exchange reserves, increased its investments in equities, real estate and infrastructure projects last year, according to the annual report.
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