Latest News:  


CIC seeks balanced portfolio

By GAO CHANGXIN (China Daily)

09:02, January 16, 2013

German auto giant Daimler AG's Mercedes Benz plant in Untertuerkheim, Germany. Media reports said last week that China Investment Corp plans to buy a 4 to 10 percent stake in the German automaker. [Provided to China Daily]

China Investment Corp, or CIC, is to balance out its portfolio this year, as a China-led global recovery mitigates risks, said CIC Chairman Lou Jiwei on Monday.

The nation's sovereign wealth fund wants to stick closely to its investment guidelines after it "under-bought" in Europe and "over-bought" in the United States and emerging markets in 2012 in response to global economic uncertainties.

"Our view is that 2013 will see a slow recovery ... but there won't be bright highlights, so we have decided to go back to having balance," said Lou at the annual Asia Financial Forum in Hong Kong.

Lou said the CIC will invest more in manufacturing, real estate and infrastructure. In a display of CIC's new interest in manufacturers, media reports last week said that it plans to buy a 4 to 10 percent stake in the German automaker Daimler AG. It has also bid for an 800 million pound ($1.3 billion) London office complex, in what could be the United Kingdom's highest-value property deal since the start of the financial crisis.

Positions on the financial services industry and commodities will be discussed.

CIC was established in 2007 by the Ministry of Finance, which issued 1.55 trillion yuan in special bonds to acquire around $200 billion of the country's foreign exchange reserves and form CIC's capital.

【1】 【2】

We recommend:

KFC apologizes for unqualified chicken supply

Li Ka-shing named Hong Kong's richest again

1st individual user of grid-connected PV power

Price cut for 20 types of drugs

Top Ten Economic Events in 2012

Demand for gold rises with diversify reserve holdings


Leave your comment0 comments

  1. Name


Selections for you

  1. Carrier-based aircraft unit in flight training

  2. J-10 fighters over E. China Sea

  3. Unforgettable moments you cannot miss in Jan.

  4. Chengdu braces for holiday travel rush

  5. The strongest left-behind children

  6. Heavy fog envelops Chinese cities

  7. North American auto show kicks off in Detroit

  8. Food and flower festivals

  9. Have fun picking strawberries in Jinshan

  10. Robot Restaurant in Harbin

Most Popular


  1. Li pledges measures in fight for clean air
  2. A competent ‘general’ is also a good ‘platoon leader’
  3. Highlighting the skills you need in a changing China
  4. Will there be another Liu Xiang in China?
  5. Heavy smog reveals generation gap
  6. A very rash act by the US
  7. Message of caution for Japan
  8. Adding mortar to the BRICS
  9. Children without parents still lack help, protection
  10. Philippines moves in wrong direction

What’s happening in China

Why supervision on 'drug chicken' lacks intensity?

  1. China eyes more high-level overseas talent
  2. Lantern on sale to welcome Spring Festival
  3. China maintains family planning policy
  4. Such 'evasion' is a shame of education
  5. Snow eases air pollution in Beijing, more or less