China Sovereign Wealth Fund to Start Research Institute
(Beijing) – China Investment Corporation (CIC), the country's sovereign wealth fund, will set up a research institute to promote international trade and investment.
Starting on Saturday, CIC will hold four recruitment sessions for overseas Chinese talent in Chicago, New York, Boston and San Francisco.
Qi Bin, the CIC's executive vice president, will be hosting these sessions, talking about the challenges and opportunities China is facing, and what role the CIC research institute is going to play in facilitating the country's growing overseas investments.
"It's an internal research department to support CIC's investment decision making, evolving to become a think tank to promote international trade and cross-border mergers and acquisitions," Qi told Caixin on Saturday.
CIC posted an annual loss on its overseas investments last year – the first since 2011 – and blamed it on falling commodity prices and a strengthening U.S. dollar, which depreciated the value of assets denominated in other currencies in its portfolio.
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