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China’s Sovereign Wealth Fund CIC Posts Record Returns

CIC posts the best results in its decade of operation, boosted by strong returns from abroad. Photo: VCG
CIC posts the best results in its decade of operation, boosted by strong returns from abroad. Photo: VCG

China’s sovereign wealth fund China Investment Corp. (CIC) booked its best annual performance last year with a 37.5% increase in net profit, thanks to record returns from overseas portfolios.

CIC, which manages investment of the world’s largest stockpile of foreign exchange, posted net income of $103.62 billion in 2017, up from $75.34 billion in 2016, according to its annual report released Monday.

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