Reported in the press, some details of China’s sovereign fund, China Investment Corp:      

• Its president and chief investment officer is Gao Xiqing
• CIC is incepted in September 2007 with an initial capital of US$200 billion
• China Investment Corp announced that it has USD90 billion (Rm288 billion) to invest overseas. Earlier, the amount should only be a third which is about US$67 billion
• The amount had risen because the government had decided CIC would need to spend less on restructuring Agricultural Bank of China and other financial institutions.(AgBank is the last big state-owned lender awaiting a bailout. Media reports have said the capital injection could be as much as US$40 billion, but a senior CIC official said privately earlier this year that the sum could be as little as US$25 billion, according to people who were present.)
• Gao announced that CIC would entrust most of its enlarged overseas allocation to external managers to be invested in equities, fixed-income and alternative investments including private equity funds, hedge funds and possibly commodities.