Source Pravda.Ru

China Investment Corp Reports Loss

China Investment Corp., the mainland's sovereign wealth fund, reported Friday in its first-ever annual report that its global investment portfolio suffered a loss of 2.1%, according to a report by Xinhua News Agency , MarketWatch reports.

However, CIC said in its first annual report that overall investment returns were US$24 billion due to its wholly-owned unit Central Huijin Investment Co, the controlling shareholder of state-run Chinese banks , Channel News Asia reports.

"We are very happy to see that in 2008, when the global economic environment was horrible, CIC achieved a 6.8 percent return on capital," Lou Jiwei, its chairman, said in the report.

CIC said its global portfolio return was negative 2.1 percent in 2008, adding this was better than other sovereign wealth funds, university endowments and pension funds , Reuters reports.

Comments
International study indicates ways to mitigate the effects of climate change on agriculture
12 signs of imminent war between the West and Russia
The Royal Wedding and the Silly Season
12 signs of imminent war between the West and Russia
12 signs of imminent war between the West and Russia
Argentina suggests Putin should reinstate gay propaganda for World Cup 2018
International study indicates ways to mitigate the effects of climate change on agriculture
International study indicates ways to mitigate the effects of climate change on agriculture
International study indicates ways to mitigate the effects of climate change on agriculture
International study indicates ways to mitigate the effects of climate change on agriculture
International study indicates ways to mitigate the effects of climate change on agriculture
Russian opposition activists desperately urge the West to topple President Putin
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
12 signs of imminent war between the West and Russia
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
Kremlin wants foreign invaders out of Syria