On November 11, 2020, International Forum of Sovereign Wealth Funds (IFSWF) Annual Meeting 2020 was virtually held and participated by senior delegates from all its 35 members.

Mr. Peng Chun, Chairman and CEO of CIC, attended the meeting and discussed a wide range of topics with heads of 15 sovereign wealth funds at the CEO Forum. Views were exchanges on issues including the pandemic's influence on domestic economy and investment environment, enhancing institutional resilience, constructing diverse portfolios, opportunities emerging from technological revolutions, and long-term institutional investors' allocation in emerging markets.

Chairman Peng Chun observed that the pandemic has sent shockwaves across the global economy and capital market, posing several challenges to sovereign wealth funds worldwide. Against this backdrop, sovereign wealth funds should be united in solidarity more than ever, stick to the solemn commitment to the Santiago Principles, and play the vital role of long-term institutional investors in the international capital market. As a long-term institutional investor, CIC remains convinced that opportunities co-exist with challenges. We have actively adapted to the major market volatilities with satisfactory outcomes. In the meantime, CIC is also focused on selecting geographies and sectors with development potentials and long-term value in the post-pandemic era.

Chairman Peng Chun also pointed out that China's economy is on a path of steady recovery. The social and economic development targets for the 14^th five year plan and the long-term goals until 2035 have been unveiled, and the new development pattern is rapidly taking shape where domestic and international markets can be mutually reinforcing with the domestic market as the mainstay. CIC is willing to bridge investment cooperation between China and the rest of the world, create value via growth with partners and share in the dividends of development.

During the annual meeting, members also discussed topics including recent work and strategies for future development of IFSWF, regional investment opportunities, institutional governance capabilities, long-term investment philosophies, and changes to investment environments, etc.

 ----------------------------------------

About the International Forum of Sovereign Wealth Funds (IFSWF)

The IFSWF is a global organization of main sovereign wealth funds worldwide. As a founding member and board member of the International Forum of Sovereign Wealth Funds (IFSWF), CIC has diligently implemented the Santiago Principles for the governance of sovereign wealth funds and has contributed to the development of the forum and broader adoption of the Principles globally.