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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

State-owned restructuring plan gets green light

Posted on 02 March 2010

From Chinadaily.com.cn: Nicknamed the second China Investment Corporation (CIC), the new entity will be a domestically oriented sovereign wealth fund set up by SASAC to better manage State-owned assets in the industrial sector, similar to the role of CIC that manages part of the country’s foreign exchange reserve in the financial sector.

The new company is said to have registered capital of 20 billion yuan and initial funding will be from the State-owned assets management budget and dividends paid by the central SOEs to SASAC last year, according to the source. ……………………………………..Full Article: Source


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