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CIC reports 4.3% loss on overseas investment for 2011

Jul. 26, 2012 (China Knowledge) - China Investment Corp (CIC), the country's sovereign wealth fund, announced yesterday that it booked a loss of 4.3% on its overseas investment last year, due to a volatile global market amid increasing uncertainties in the world economy.

It was the second year for CIC to suffer a loss on overseas investment since its establishment in 2007. The fund recorded a loss of 2.1% on its overseas investment in 2008 and then booked a return of 11.7% in 2009 and 2010.

CIC said in its annual report that its annualized return on overseas investment was 3.8% since its establishment.

In 2011, the fund's total investment income was US$48.59 billion. Net profit was US$48.42 billion last year, down from US$51.56 billion in 2010. Central Huijin Investment, the main domestic investment arm of CIC, is the major shareholder of China's Big-Four state-owned banks and China Development Bank.

As of the end of last year, the fund's total assets had increased 17.72% from a year earlier to US$482.17 billion. In December last year, the CIC got US$30 billion of capital injection from the State Administration of Foreign Exchange.

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