China Investment Corporation (CIC) is an investment institution established as a wholly state-owned company under the Company Law of the People’s Republic of China and headquartered in Beijing.
The mission of CIC is to make long-term investments that maximize risk adjusted financial returns for the benefit of its shareholder.
CIC was established on September 29th 2007 with the issuance of special bonds worth RMB 1.55 trillion by the Ministry of Finance. These were, in turn, used to acquire approximately USD 200 billion of China’s foreign exchange reserves and formed the foundation of its registered capital. Because its financing is grounded in financial instruments and subject to commercial obligations, CIC maintains a strict commercial orientation and is driven by purely economic and financial interests.
CIC is committed to maintaining the high professional and ethical standards in corporate governance, transparency, and accountability.
CIC selects investments based on established investment principles and values. CIC usually does not take a controlling role – or seek to influence operations – in the companies in which it invests.
CIC’s fundamental approach is to hold, manage, and invest its mandated assets to maximize shareholder’s value.
While every investment is unique, CIC believes in the importance of having a long-term vision and, as a result, it is committed to investing for the long-term. As a commercial investment institution, CIC has full operational independence and makes its investment decisions based on its assessment of economic and financial objectives.
CIC’s investments are not limited to any particular sector, geography, or asset class and include equity, fixed income, and alternative assets.
CIC is committed to maintaining the highest professional and ethical standards of corporate governance, transparency, and accountability.
CIC’s comprehensive three-tiered corporate governance structure includes Board of Directors, Board of Supervisors, and Executive Committee. It is governed by the Company Law of the People’s Republic of China and the company’s Articles of Association and operating guidelines. While it operates with independence and its investment decisions are based on the pure economics of each deal, CIC remains accountable to the State Council of the People’s Republic of China and, ultimately, to the citizens of the People’s Republic of China.
Central Huijin Investment Ltd. (Central Huijin) is a wholly-owned subsidiary of CIC with its own Board of Directors and Board of Supervisors. It was established to invest in key state-owned financial institutions in China; it does not conduct any other commercial activities and is not involved in day-to-day issues within the institutions in which it invests.