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CIC buys US$9.6b of US shares

CHINA Investment Corp, the country's sovereign wealth fund, bought US$9.6 billion worth of shares in 84 companies listed in the United States, including big brands such as Morgan Stanley, Apple Inc and Coca-Cola, by the end of last year.

The biggest investment, totaling US$3.54 billion, was in Teck Resources Ltd, a Canadian resources and mining company listed in the US, followed by US$1.77 billion for Morgan Stanley and US$714 million for Blackrock Inc, according to a filing to the US Securities and Exchange Commission.

The US$300 billion investment fund also held small stakes in well-known American brands, including Apple Inc, Citigroup, Coca Cola, Johnson & Johnson, Motorola and Visa.

"China Investment Corp conducted extensive investments in stock, mining, resources and real estate companies, while resources and financial companies are its main focuses as they are big components in a nation's economy," said Du Zhengzheng, an analyst at Hongyuan Securities Co.


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