China Investment Corporation has taken stakes and put cash in pockets around the globe.
China Investment Corp’s investments reach into energy and utilities, but also unexpected crevices, such as a $1-billion stake in a Manhattan skyscraper at 1221 Avenue of the Americas. Credit: Tdorante10, Creative Commons
China Investment Corporation (CIC) is the world’s second largest sovereign wealth fund, with more than $1 trillion in assets, a global portfolio and control over a large investment vehicle at home called Central Huijin.CIC oversees Central Huijin, a major Chinese investor in state-owned enterprises (SOEs) that manages $686 billion. Historical conversion from the 4.78 trillion RMB cited in CIC’s 2019 annual report. Central Huijin has taken stakes in 18 SOEs since its formation in 2003.
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