| China's sovereign wealth fund China Investment Corp. (CIC) earned a lower return on its overseas investment last year at 5.47 percent, it said on Friday. At its annual earnings briefing, CIC said it posted a net profit of $89.1 billion last year, up 2.5 percent from the $86.9 billion earned in 2013. The fund recorded a 9.3 percent return on its overseas investment in 2013.
Founded in 2007 to help China earn a higher return on its huge foreign exchange reserves, CIC invested about 30 percent of its assets - or $200 billion - in overseas markets last year. At the end of the first quarter, China had $3.73 trillion in reserves...............................................Full Article: Source
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