Xinhua | Editor: Liangyu | October 10, 2017:
Total assets of China Investment Corporation (CIC), the country’s sovereign wealth fund (SWF), surpassed 900 billion U.S. dollars as of August.
The figure is more than triple the original capital of 249 billion U.S. dollars when the fund was founded a decade ago. It has grown quickly to become the world’s second-largest SWF, only after the Government Pension Fund of Norway, whose assets reached one trillion dollars last month.
CIC has generated an annual return of 14.35 percent, with that from overseas investment at 5.51 percent.
“Compared with other financial institutions, our biggest advantage is that we are backed by the Chinese market,” CIC’s general manager Tu Guangshao said.
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