On October 20th, according to foreign media reports, CIC's new subsidiary, CIC International (Hong Kong) Company, has set up an office in CITIC Tower in Central, Hong Kong, and has appointed Hong Kong famous economist Liu Zunyi as its chairman. CIC plans to hold a formal opening ceremony in the next few weeks.
Market participants pointed out that CIC's establishment of a branch in Hong Kong is to facilitate its investment team's access to Hong Kong's financial industry and the management of listed companies, making CIC's overseas investment more convenient.
CIC, which manages China ’s $ 300 billion in foreign exchange reserves, has been actively recruiting dozens of new fund managers, investment experts and support staff in recent months to strengthen its ability to invest in various assets globally.
At the age of 65, Liu Zunyi is a member of the Executive Council. According to the Declaration of Interests of the Executive Council, Liu Zunyi has declared to the guild on September 13 and became the chairman and board member of CIC International (Hong Kong).
Liu Zunyi was the director of the Institute of Economic Policy at Stanford University in the United States. He was very familiar with the Chinese economy. He established the first Chinese econometric model in 1966. He is also an honorary member of the Chinese Academy of Social Sciences and an international consultant to the National Bureau of Statistics. In 2004, Liu Zunyi became the president of CUHK and retired in mid-2010. Scholars embarked on the road of being a strong business man. During his tenure as president of CUHK, Liu Zunyi was among the top executives of commercial institutions, including serving as an independent non-executive director of CNOOC, a listed company.
China Investment Corporation was established on September 29, 2007. It is a wholly state-owned company engaged in foreign exchange capital investment management in China. The Ministry of Finance raised RMB 1.55 trillion by issuing special national bonds and purchased foreign exchange reserves equivalent to USD 200 billion as the registered capital of CIC.
CIC said earlier that its return on overseas investment in 2009 was 11.7%, which is much improved compared with the loss of 2.7% in 2008.
Currently, CIC only has one subsidiary of Central Huijin. Huijin has its own board of directors and board of supervisors, invests in and holds equity in key state-owned financial enterprises, and exercises shareholder rights on behalf of the State Council. It does not carry out any other commercial operations or interfere in the daily operations of its holding companies.
The above information source "Venture Investment" is authorized by the China Venture Capital Research Institute (CVCRI) to publish it. All rights reserved. Please indicate the source when reprinting. For more information, please click download to view all articles.
For more information, please refer to Guotaian Financial Education Group Guotaian Education Service Network Contact Phone 400-609-6665 800-999-3099
E-mail:
Xiongxian Tonghai Latex Products Co., Ltd , https://www.tonghaiballoon.com