• Why was CIC established?Learn More

    CIC was established as a vehicle to diversify China's foreign exchange holdings and to maximize the long-term risk-adjusted returns.

  • Where did CIC's original registered capital come from?Learn More

    CIC was initially capitalized with $200 billion in reserves purchased from the People's Bank of China in exchange for RMB1,550 billion in sovereign bonds issued by the Ministry of Finance. The state has injected a total of $49 billion into China Investment Corporation International Co., Ltd. (CIC International), a wholly owned subsidiary of CIC.

  • What CIC does?Learn More

    CIC has three subsidiaries, CIC International Co., Ltd. (CIC International), CIC Capital Corporation (CIC Capital) and Central Huijin Investment Ltd. (Central Huijin).

    The overseas investment and management activities of CIC are undertaken by CIC International and CIC Capital. Both CIC International and CIC Capital are market-oriented commercial entities with a specialized mandate and global reach.

    CIC International was established in September 2011, with a mandate to invest and manage overseas assets. It took over the entire portfolio and mandate for overseas investment from CIC. CIC International conducts public market equity and bond investments, hedge funds and real estate investments, private equity fund investments, co-investments and minority investments as a financial investor.  

    CIC Capital was incorporated in January 2015 with a mandate to specialize in making direct investments to refine CIC's overall portfolio management and enhance investment on long-term assets.

    Central Huijin makes equity investments in key state-owned financial institutions in China. Without interfering with the day-to-day operations of its investee institutions, Central Huijin exercises its shareholder rights and performs its obligations to the extent of its capital contribution, in order to preserve and enhance the value of state-owned financial assets.

    A strict operational firewall exists between the overseas business run by CIC International and CIC Capital and the domestic business run by Central Huijin.

  • What are CIC's overseas investment principles?Learn More

    The principles that underlie CIC's investment activities are: CIC invests on a commercial basis and the objective is to seek maximum returns within acceptable risk tolerance. CIC is a financial investor and does not seek control of the companies in its portfolio. CIC is a responsible investor, abiding by the laws and regulations of China and recipient countries and conscientiously fulfilling corporate social responsibilities. CIC pursues investments based on in-depth research guided by the asset allocation framework to ensure a prudent and disciplined investment decision-making process.

  • How does CIC structure its overseas investment portfolio?Learn More

    CIC invests in a wide range of financial products globally, including public equity, fixed income, absolute return and long-term investments and cash and others. Public equity refers to equity investment in listed companies. Fixed income refers to Bonds, including sovereign, corporate, and agency bonds. Absolute return includes hedge funds and multi-asset investments. Long-term investments includes industry-wide direct investments, industry-wide private equity, resources /commodities, real estate and infrastructure. Cash and others includes cash, overnight deposits, and US Treasury bills.

  • What is CIC's investment decision-making process?Learn More

    Since its inception, CIC has established a scientific, disciplined, and effective decision-making framework. CIC International conducts public market equity and bond investments, hedge fund and real estate investments, and private equity fund investments, co-investments, and minority investments. CIC Capital is mandated to make direct investments and manage bilateral, multilateral and platform fund investments. Based on these adjustments, the Investment Committee of CIC International (the Investment Committee) and the Investment and Management Committee of CIC Capital (the Investment and Management Committee) were established within the two arms to make investment decisions separately. In addition, to enhance the efficiency and quality of investment decision-making and to clarify project management responsibilities, investment authorization plans are formulated to grant discretionary authority to investment teams.

  • How does CIC evaluate and manage investment risks?Learn More

    CIC possesses a comprehensive risk management system to classify and manage risks, involving the Executive Committee, the Risk Management Committee and all investment departments to manage a broad range of risks—market, credit, operational, liquidity, strategy, compliance, reputation and country risks. Risk management is a corporate-wide effort involving every business line, department and individual. It is embedded throughout the investment life cycle, from the overall portfolio to each specific asset class and strategy.

    CIC's comprehensive risk management system is built on the following pillars: a three-layer system featuring basic risk management procedures, pre-determined approaches designated to different types of risk and guidelines to provide institutional guarantee for scientific and orderly risk control. CIC developed an integrated platform that standardizes risk management efforts in three different aspects: investments, supporting functions and supervision. As a result, CIC has formulated "three lines of defense"consisting of investment teams, internal control and discipline supervision department.

     

  • How does CIC evaluate investment performance?Learn More

    In January 2011, CIC's Board of Directors decided to extend the investment horizon of overseas assets to 10 years and begin to adopt cumulative annualized return as an important indicator for performance evaluation and attribution. 

  • Does CIC have overseas branches?Learn More

    CIC has two overseas branches—China Investment Corporation International (Hong Kong) Co., Ltd. and CIC Representative Office in New York.

  • How is CIC's global outreach?Learn More

    Since its inception, CIC has committed to international communications and dialogues, advocating greater transparency and higher compliance standard in our investment activities. With dedicated efforts in the past five years, we have demonstrated that CIC is a prudent, professional and responsible global investor with the highest level of business ethics.

    As a charter member of the International Forum of Sovereign Wealth Funds, CIC has been active in a variety of the forum's activities. CIC abides by the rules of the Santiago Principles, demonstrating our commitment to timely information disclosure, a practice that has received general recognition from recipient countries and business partners.

  • What is in CIC's annual report? When is the report released?Learn More

    CIC has released five annual reports since 2009. These reports contain information on CIC's corporate overview, culture and core values, governance, investment and risk management, human resources, global outreach and financial statements. CIC releases its annual report in late July each year.

  • How can I join CIC? Does CIC provide career opportunities for foreign citizens?Learn More

    As a global investment institution, CIC encourages individual career advancement. CIC welcomes talent with diverse cultural backgrounds from all over the world to bring wisdom, passion and creativity to the firm. In return, CIC provides challenging career opportunities in different regions. CIC provides equal opportunities for all applicants, regardless of nationality. Apply now.