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Sovereign wealth

  • Published 20 Aug 2009

China Investment Corporation recently reported its financial results for the first time, noting net profits of $23.1bn in 2008, despite a poor performance overseas.

China Investment Corporation (CIC), the country's sovereign wealth fund, on August 7 released its inaugural annual report for 2008, including financials for its wholly owned unit Central Huijin. The investment body recorded net profits of $23.1bn (Rmb 157.9bn, €16.4bn, £14bn) for the year with a return on capital of 6.8%. The value of its overseas investment portfolio, however, had declined 2.1% over the period.

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