China's sovereign wealth fund to develop five year plan

The overseas direct investment platform scale will reach about $50 billion

In December 2018 06, from 17:56: - financial channel December 6 Beijing Xinhua (reporter Wu Qiuyu) overseas investment of about $250 billion of China's sovereign wealth fund, China Investment Corp (hereinafter referred to as "investment company") has formulated 2018-2022 year strategic plan. The plan, in accordance with the State Council's foreign direct investment business platform funds reached $500-1000 of the requirements, the company will actively strive for the implementation of the source of funds, steadily increasing offbeat assets and direct investment business, and strive to the end of 2022 the CIC overseas investment accounted for the total portfolio proportion reached 50%, formed by the offbeat and direct investment in assets the characteristics of investment mode, provide strong support for the national strategy and the promotion of the national foreign exchange investment income.

CIC vice chairman and general manager Tu Guangshao said that in September 2007 since the establishment of the investment company, facing the huge challenge of international financial crisis and market turmoil, starting from scratch to promote the company's construction and development, to create a line with international standards of professional foreign investment platform in ten years, to explore the formation of the management of capital features the marketization and specialization of state-owned financial capital management "Huijin mode", writing the history of entrepreneurship development Chinese sovereign wealth fund extraordinary, realize the solemn commitment to create wealth for the country.

Data show that as of the end of 2017, the investment company with total assets of $941 billion 400 million, with a net worth of $846 billion, the cumulative pre tax profit of $719 billion 700 million, paid taxes 10636 yuan, annual state-owned capital appreciation rate reached 14.51%, the scale is among the world's second largest sovereign wealth fund, has become an important force in the international market competition, national service strategy.

The strategic plan, 2018-2022 years is a critical period of CIC has entered a new stage of development, the company will create more wealth and value for the country and make greater contribution to the two-way cross-border investment, play a positive role for the improvement of state-owned capital management, and the ability of company and brand value has been significantly improved. With a number of important investment projects have been landed, CIC's overseas direct investment platform reached about $50 billion, to play a greater role in "The Belt and Road" construction and international cooperation in cross-border investment in production capacity, and lead to achieve greater as outreach, play an active role in the national economic and financial diplomacy.

Tu said that the fund will achieve the above goals, improvement and innovation of foreign investment, to create a unique investment investment mode, actively carry out the "Chinese perspective" investment, promote bilateral investment fund innovation, cross-border investment ecological system construction of multi dimension. At the same time, to enhance the ability of investment institutions, improve the work efficiency and asset allocation, promote the optimization of the investment business, improve the system of management and investment efficiency evaluation risk, strengthen the management of the whole process of investment and investment support. In addition, CIC will also optimize the management structure of the company, to further improve the "1+3" management mode, strengthen the "a vote" concept, adhere to the domestic and overseas business combination arrangement, according to the comprehensive management system, work to the main ideas, to further improve the investment company headquarters, CIC International, overseas investment Huijin three subsidiaries, one of the "1+3" management mode, the division of functions, boundary and convergence process management optimization between the company headquarters and subsidiaries, a clear division of responsibilities, and achieve efficient operation.

Tu said, the future will be based on business needs, investment in Europe and Southeast Asia and other places to set up 2-4 new overseas branches, further build a reasonable and efficient network of branches, and enrich the branch function, expand the Hongkong subsidiary business scope gradually, explore the entrusted asset management business innovation, strengthen the investment to support the New York representative office the role, explore the establishment of management mode of matrix branches, give full play to regional research, project search, investment management, market contact localization advantage, the effective implementation of the headquarters and branch offices of the Cooperative Co.

(commissioning editor Zhao Shuang and Yuan Bo)

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