CIC's bigger bet

21 December 2009 By Wei Gu

CIC is to have its coffers restocked possibly with as much as $200 billion. China’s domestic financial sector is likely to receive much of the cash. But globally, this is likely to be another boost for the commodities sector.

This content is for Subscribers only

Context News

China Investment Corporation is likely to receive more capital from the state in the coming months, people familiar with the situation said. The Financial Times reported CIC to receive an amount similar to the initial $200 billion it was given in 2007. Slightly over half of CIC's funds are allocated for investments outside of China. The rest is invested in domestic financial institutions through Central Huijin, a wholly owned subsidiary.

During 2009, CIC increased its investment in Morgan Stanley by $1.2 billion. It also bought stakes in Canada's Teck Resources, Singaporean commodities supplier Noble Group, Indonesia's PT Bumi Resources, JSC KazMunaiGas Exploration Production, and Mongoliafocused SouthGobi Energy Resources.

Email a friend

Please complete the form below.

Required fields *