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Sovereign Wealth Funds Briefing - Categorized | Market, Performance

CIC: Japanese investment losses far less than reports

Posted on 25 March 2011

China Investment Corporation Deputy General Manager Wang Jianxi said Wednesday that CIC’s investment and losses in Japanese companies have been largely exaggerated by the media and are far less than reported figures.
Earlier this month, the 21st Century Business Herald carried reports saying CIC suffered huge losses from its 522.2-billion-yen (about 40.4 billion yuan) investment in 10 major Japanese companies. The newspaper also said the sovereign wealth fund had invested 35.9 billion yen (about 2.935 billion yuan) in Tokyo Electric Power Co., whose share prices dropped about 40 percent after Japan’s earthquake……………………………………….Full Article: Source

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