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CIC seeks balanced portfolio (2)

By GAO CHANGXIN (China Daily)

09:02, January 16, 2013

Committed to long-term investments overseas, CIC has made a slew of successful investments and seen its assets increase rapidly. But in 2011, it reported a 4.3 percent loss in overseas investments amid the global downturn. The total assets of the CIC stood at $482 billion at the end of 2011, up 17.7 percent from the previous year. Results for 2012 have yet to be published. CIC typically releases its annual results in July.

Lou warned the recovery in 2013 will be fragile and there will be the risk of a recession.

"The US didn't fall off the big 'fiscal cliff', but there are still smaller cliffs ahead," said Lou, referring to the sharp decline in the budget deficit that could have occurred in 2013 due to increased taxes and reduced spending as required by previously enacted laws.

"Though very slim, there are still chances that the US will fall off one of them."

In terms of US Treasuries, Liu said there are a dilemma. He said US Treasuries are safe and crucial in lowering risks in investment portfolios, but generate very low yields. "My advice is to buy a little," Lou said.

CIC believes China will be the fastest-growing economy in the foreseeable future and will invest more in neighboring countries that benefit from cooperation with China.

Global investors ditched a hard-landing scenario after the Chinese economy regained momentum in the second half of 2012. Economists believe that China's economy grew 7.8 percent in 2012 and that 8 percent growth is in store for 2013.

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