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CIC receives US$50 bln-injection from PBOC: reports

Feb. 13, 2012 (China Knowledge) - China Investment Corp, or CIC, China's sovereign wealth fund responsible for managing part of China's foreign exchange reserves, has received a US$50 billion capital injection from the country's central bank, People's Bank of China, or PBOC, said a person familiar with the matter.

The person added that CIC acquired the fund from PBOC after the Lunar New Year holiday in January. A spokesperson for the central bank declined to comment on the news.

The value of the sovereign wealth fund increased from US$410 billion to US$460 billion, which would boost the fund's overseas investment, especially in debt-laden European economies and resource-rich Latin America, said analysts.

In 2011, CIC unveiled several investment plans in the international market, which included a cooperative agreement worth EUR 2.3 billion inked with GDF Suez S.A., a French multinational energy company.

Last year, CIC also invested US$1 billion in Russian Direct Investment Fund, established by the Russian government.

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