Nov 12, 2022 05:11 AM

FINANCE

China’s Sovereign Wealth Fund Posts 14.27% Investment Return Overseas

By Yue Yue and Han Wei

Set up in 2007 by the Ministry of Finance to manage part of China’s foreign exchange reserves, CIC has overtaken Norway’s Government Pension Fund Global to become the world’s largest sovereign wealth fund by assets

Set up in 2007 by the Ministry of Finance to manage part of China’s foreign exchange reserves, CIC has overtaken Norway’s Government Pension Fund Global to become the world’s largest sovereign wealth fund by assets

China Investment Corp. (CIC), the country’s $1 trillion sovereign wealth fund, posted a return of 14.27% on overseas investments in 2021 despite a slowing global economy under the shadow of the pandemic.

CIC’s 2021 investment return in dollar terms outperformed that of 2020 by 0.2 of a percentage point, the company said in its annual report released Friday. It warned of a more challenging 2022.

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