State Forex Investment Company Debuts – Xin Zhiming

From China Daily:

China Investment Corporation (CIC), the country’s $200 billion sovereign wealth fund, formally started operation on Saturday as policymakers seek to diversify its $1.41 trillion worth foreign exchange reserves.

The new company will have Lou Jiwei, vice general secretary of the State Council and former vice finance minister, to act as chairman of the board of directors and Gao Xiqing, former deputy chairman at the National Council for Social Security Fund, as general manager, according to a statement released at the opening ceremony in Beijing. [Full Text]

See the list of China’s Forex revenues from 1977 to 2007.


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