China Investment Corporation (CIC; Chinese: 中国投资有限责任公司; pinyin: zhōngguó tóuzī yǒuxiàn zérèn gōngsī) is a sovereign wealth fund that manages part of the People's Republic of China's foreign exchange reserves. China's largest sovereign wealth fund, CIC was established in 2007 with about US$200 billion of assets under management, a number that grew to US$941 billion in 2017 and US$1.2 trillion in 2021. As of 2007, the People's Republic of China has US$1.4 trillion in currency reserves. (By 2013, US$3.44 trillion.) The China Investment Corporation was established with the intent of using these reserves for the benefit of the state, modeled according to Temasek Holdings of Singapore. The state-owned Central Huijin Investment Corporation was merged into the new company as a wholly owned subsidiary company. More information...
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