China Investment Corporation (CIC) (Chinese: 中国投资有限责任公司; pinyin: zhōngguó tóuzī yǒuxiàn zérèn gōngsī) is a sovereign wealth fund responsible for managing part of the People's Republic of China's foreign exchange reserves. CIC was established in 2007 with approximately US$200 billion of assets under management, making it one of the largest sovereign wealth funds. Since then, CIC's assets have grown to $410 billion at the end of 2010.
Read more about China Investment Corporation: History, Governance, Profile, Investment Strategies
Famous quotes containing the words china, investment and/or corporation:
“Anyone who tries to keep track of what is happening in China is going to end up by wearing all the skin of his left ear from twirling around on it.”
—Robert Benchley (1889–1945)
“The only thing that was dispensed free to the old New Bedford whalemen was a Bible. A well-known owner of one of that city’s whaling fleets once described the Bible as the best cheap investment a shipowner could make.”
—For the State of Massachusetts, U.S. public relief program (1935-1943)
“The nearest the modern general or admiral comes to a small-arms encounter of any sort is at a duck hunt in the company of corporation executives at the retreat of Continental Motors, Inc.”
—C. Wright Mills (1916–1962)