China's sovereign wealth fund banks on diversifying investmeng, with new focus on Africa.
Despite its present size and scale, China's first sovereign wealth fund had relatively humble beginnings. The Beijing-based wealth fund started off as a state-owned enterprise on Sept 29, 2007, with an initial corpus of $200 billion (148 billion euros).
2007
Though there is no firm yardstick to gauge its real impact, China Investment Corp has in many ways been the most representative face of Chinese investment in Europe. Apart from its regular activities such as equity and other investments, the fund has also played a key role by teaming up with other sovereign wealth funds for joint investments on the continent.
The recently published annual report of China Investment Corp, the Chinese sovereign wealth fund, had encouraging news for all Chinese. The fund had a return of 10.6 percent last year, greatly outstripping its performance the previous year, a loss of 4.3 percent. Given that CIC has billions of dollars of assets under management, even a 1 percent difference in investment returns can make a big difference in absolute terms.
Sovereign wealth fund is turning China into a strong force in global financial investment
It is not just Africa that finds itself dependent on how the China growth story unfolds over the next few years but the rest of the world too.
Qian Liu,
Qian Liu believes "magic" high growth rate figures are now firmly in the past for China.
Investors in Africa have recently been in two minds as to whether the so-called China slowdown is something of which they need to be afraid.
Beijing's new economic goals will have far-reaching impact on other economies
State-owned enterprises are paving the way for sustainable, meaningful development in Africa.
Copyright 1995 - 2010 . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
