CIC seeks continual funding from Beijing

07-03-2012

China Investment Corporation is working on a system through which it would get continued funding from the Chinese government to play a bigger role in helping diversify the country's huge foreign exhange reserves. This came from CIC's executive vice president Wang Jianxi in an interview with the Wall Street Journal after the sovereign wealth fund received a one-off US$30 billion capital injection from Beijing.

CIC used up its previous allocation of funds for foreign investment in 2010, preventing it from doing big overseas deals in the past year, when governments and businesses, particularly in Europe, are seeking Chinese capital.


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