CIC ‘will im­prove’ how it runs over­seas projects

China Daily (Canada) - - BUSINESS -

China In­vest­ment Corp, the na­tion’s $575 bil­lion sov­er­eign wealth fund, said it is im­prov­ing how it man­ages over­seas in­vest­ments af­ter au­di­tors said mis­man­age­ment led to losses. The fund has drafted plans to rec­tify is­sues iden­ti­fied by theNa­tional Au­dit Of­fice and an­a­lyzed the causes, and it is amend­ing its pro­ce­dures, CIC said in an e-mailed state­ment.

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