China wealth fund sees no need for new forex fund

BEIJING (MarketWatch) -- An executive with China Investment Corp., the country's sovereign wealth fund, said that he doesn't see a need for the country to set up any new foreign exchange-reserve investment funds, Caixin Media reported Friday on its website.

Jin Liqun, chairman of CIC's board of supervisors, said in a speech in Washington D.C that CIC has covering most investment sectors and has done a good job with its investments, Caixin reported.

CIC Chairman: Support Greater Sovereign Wealth Fund Transparency, With Caveats

BEIJING (Dow Jones)--The chairman of Chinese sovereign wealth fund China Investment Corp. said Wednesday he supports greater transparency from sovereign wealth funds worldwide, with some caveats.

Lou Jiwei was speaking in Beijing at the International Forum of Sovereign Wealth Funds, a meeting hosted by the Chinese fund. A summary of his remarks was released by CIC.