BEIJING (Dow Jones)--China Investment Corp., the country's $300 billion sovereign-wealth fund, is "eagerly awaiting" the government's decision to inject fresh funds as the firm has already used up its current pool of money, Wang Jianxi, CIC's executive vice president, said Friday.
Speaking on the sidelines of the Chinese People's Political Consultative Conference, the country's top political advisory body, Wang said if extra cash doesn't arrive in time, the fund will have to make some minor portfolio adjustments. He didn't elaborate.
Wang added that the global financial crisis has made it difficult for the sovereign wealth fund to find investment opportunities and it isn't a good time to invest in emerging markets where inflation pressures are on the rise.
Last year, China's foreign-exchange regulatory chief Yi Gang acknowledged that the authorities were studying whether to inject more capital into the country's sovereign-wealth fund, but said Beijing aimed to let private investors play a larger role in overseas investments.
Wang also said that CIC may set up overseas branches in the future but added that there is no specific timetable for the plan yet.
Source: http://online.wsj.com
Speaking on the sidelines of the Chinese People's Political Consultative Conference, the country's top political advisory body, Wang said if extra cash doesn't arrive in time, the fund will have to make some minor portfolio adjustments. He didn't elaborate.
Wang added that the global financial crisis has made it difficult for the sovereign wealth fund to find investment opportunities and it isn't a good time to invest in emerging markets where inflation pressures are on the rise.
Last year, China's foreign-exchange regulatory chief Yi Gang acknowledged that the authorities were studying whether to inject more capital into the country's sovereign-wealth fund, but said Beijing aimed to let private investors play a larger role in overseas investments.
Wang also said that CIC may set up overseas branches in the future but added that there is no specific timetable for the plan yet.
Source: http://online.wsj.com
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