BEIJING (Reuters) – Sovereign fund China Investment Corp (CIC) said on Friday it had booked a 14.07% net return on overseas investment in 2020.
Its annualised accumulative investment return for 2010 to 2020 was 6.82%, exceeding the fund’s performance review target, the company said.
Headquartered in Beijing, CIC was founded in 2007 to help China earn a higher return on its foreign exchange reserves.
It managed 5.19 trillion yuan ($801.05 billion) worth of state assets at the end of 2020, its earnings report showed.
The fund is also a shareholder in China’s largest policy and state banks including China Development Bank Corp and Industrial and Commercial Bank of China Ltd.
($1 = 6.4790 Chinese yuan renminbi)
(Reporting by Cheng Leng and Ryan Woo; Editing by Kirsten Donovan)
