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BEIJING -- Total assets of China Investment Corporation (CIC), the country's sovereign wealth fund (SWF), surpassed 0 billion as of August.The figure is more than triple the original capital of 9 billion when the fund was founded a decade ago. It has grown quickly to become the world's second-largest SWF, only after the Government Pension Fund of Norway, whose assets reached one trillion dollars last month.CIC has generated an annual return of 14.35 percent, with that from overseas investment at 5.51 percent."Compared with other financial institutions, our biggest advantage is that we are backed by the Chinese market," CIC's general manager Tu Guangshao said.By the end of 2016, almost half of CIC's overseas investment was in public equities, followed by alternative assets, fixed incomes, cash and others. Around two-thirds of the investment was externally managed.Tu said CIC's growth in the next 10 years will depend on its efforts to invest in China's economic transformation and push forward the global march."CIC will devote itself to serving as a bridge linking businesses and markets at home and abroad," Tu said.
BEIJING — Xi Jinping on Wednesday painted a particularly optimistic outlook for the future of the world's second-largest economy in an effort to substantiate the Chinese Dream of national rejuvenation, promising a "great modern socialist country" by the middle of this century.
BEIJING-Wanda Hotel Development Co has corrected a statement that last week appeared to contradict an English-language version of an announcement by the unit of billionaire Wang Jianlin's entertainment conglomerate.
BEIJING -- Chinese President Xi Jinping has appointed six new ambassadors in accordance with a decision by the Standing Committee of the National People's Congress, according to a statement from the national legislature Thursday.
BEIJING -- China's textile and garment exports grew 9.9 percent year-on-year to 5.2 billion in the first 11 months, official data shows.