CIC’s profits soar by 81%
China Investment Corporation (CIC), Beijing's sovereign wealth fund (SWF), made a profit of $41.6 billion last year, up 81% from 2008, its 2009 Annual Report published on Thursday revealed.
The report showed that the bulk of the profit derived from gains in its investment income from long-term equity investments. Long-term equity investments accounted for $201.4 billion-worth of its total assets.
The report revealed that total assets held in 2009 amounted to $332.4 billion, up 11.7% from $297.5
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