| China's sovereign wealth fund, China Investment Corp., reported a 2012 net profit of $77.4 billion, up 60 percent from the previous year when it had posted its first-ever dip in profit.
CIC's return on overseas investment reached 10.6 percent in 2012, compared to a negative 4.3 percent in 2011. Earlier this month China formally named career bureaucrat Ding Xuedong as the new chairman of CIC, ending a months-long search for a head of the $500 billion fund...............................................Full Article: Source
|