06.03.2015 - China CIC Sets Up Direct Investment Unit to Boost Efficiency
China Investment Corp., the nation’s $653 billion sovereign wealth fund, set up a company in January to focus on direct equity investments, a senior executive said.The new unit, which will integrate CIC’s existing direct investment operations, will seek to work with Chinese companies looking for overseas investment opportunities, Zhao Haiying, a member of executive committee of the Beijing-based fund, said in an interview. The establishment of CIC Capital will help the fund improve the efficiency of its direct investments, Zhao said in Beijing. CIC’s returns on its overseas portfolio dropped last year amid “complicated” global economic conditions, she said, without being specific...............................................Full Article: Source
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