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在线翻译:
szdaily -> Markets -> 
Sovereign fund profit soars on record overseas returns
    2018-07-10  08:53    Shenzhen Daily

CHINA’S sovereign wealth fund China Investment Corp. (CIC) posted a 37.55 percent rise in 2017 net profit, boosted by record-high returns from its overseas portfolio.

Profit rose to US$103.62 billion from US$75.34 billion a year ago for CIC, a shareholder in China’s largest banks.

CIC’s total investment income was US$114.46 billion, versus US$83.03 billion in 2016, its 2017 report showed yesterday.

CIC invests overseas through two units, CIC International Co. and direct investment vehicle CIC Capital Corp. The latter, in 2017, made 20 overseas investment decisions with a total committed investment figure of US$3.8 billion.

The wealth fund hopes to invest more in U.S. markets, CIC president Tu Guangshao said at a press conference in Beijing, adding that concerns about any impact on the fund’s investment plans from mounting trade tensions between the countries was “totally unnecessary.”

Offshore strength pushed the fund’s annualized accumulative investment return for the 2007 to 2017 period to 5.94 percent, exceeding the fund’s performance review target, CIC said.

Headquartered in Beijing, CIC was founded in 2007 to help China earn a higher return on its foreign exchange reserves.

In the past, CIC has invested in several overseas companies ranging from online property rental firm Airbnb, Canadian mining company Teck Resources to U.S. private equity house Blackstone. (SD-Agencies)

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