China sovereign fund publishes first annual report

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China Investment Corporation, a sovereign wealth fund, on Friday reported a 2.1% loss on the rate of return on its global portfolio for 2008.

The fund said in its inaugural Annual Report that despite the losses on its global portfolio, it made an overall return on capital of 6.8% on the back of strong results for its domestic interests. The fund's capital is split 50-50 between local investments, which are made through its Central Huijin vehicle and foreign investments.

Xinhua, a state-owned new

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