CIC sets its sights on major global role
China Investment Corporation is expected to become the world’s largest sovereign wealth fund in two years with assets totaling $1 trillion under management by that time, according to its chairman.
“We have laid solid foundations in the past nine years, and we will stick to our original aim of becoming a world-leading and respectable sovereign wealth fund,” Ding Xuedong, chairman and CEO of China Investment Corporation, told Economy & Nation Weekly. “CIC’s assets under management will exceed $1 trillion in two years based on this growth.”
China Investment Corporation had assets totaling more than $810 billion under management by the end of 2015, and its annualized growth rate of state-owned capital reached 15.3 percent since CIC’s inception, according to CIC’s financial report of 2015.