| China's State Council has approved a plan to separate the international operations of the country's sovereign wealth fund China Investment Corp. from its wholly-owned, domestically-focused unit Central Huijin Investment Ltd so that the two companies operate as separate subsidaries under the control of CIC.
The government will establish a new entity, CIC International, that will focus on overseas investment, the new entity will be a wholly-owned subsidary of the CIC parent company, with the Ministry of Finance (MOF) and the People's of Bank of China also taking shares in the company...............................................Full Article: Source
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