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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment, Market

CIC likely to get $50bln cash injection this year

Posted on 28 June 2011

China’s sovereign wealth fund, China Investment Corp., will likely receive a cash injection of $50 billion this year, as Beijing moves to diversify its foreign exchange reserves, Capital Week reported Monday, citing unnamed officials at the fund.
CIC has submitted an application for the new funds to the State Council, China’s cabinet, and the injection will be approved as soon as the fund completes a reshuffle of its investment department, an unnamed official at CIC was cited as saying………………………………………..Full Article: Source


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