CIC halves funds application
China Investment Corp (CIC), the PRC's $300 billion sovereign wealth fund, was denied central government approval to raise $200 billion in additional funding, and in response has lowered its application to $100 billion.
Local media had reported that the fund was seeking an additional $200 billion in cash to manage, as it has nearly spent its initial capital provided in 2009. Jesse Wang, executive vice president of CIC,...
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