 Operating in an inharmonious world: China Investment CorporationLeong Liew and Liping He Journal of the Asia Pacific Economy, 2012, vol. 17, issue 2, 253-267 Abstract: This paper investigates the establishment and subsequent investment strategy of China's official sovereign wealth fund, the China Investment Corporation (CIC). CIC, as its stands today, is derivative of the contest between the People's Bank of China and Ministry of Finance for control over the nation's financial assets. The contest takes place amidst China's desire to avoid significant appreciation of its currency to protect its export markets and yuan value of its state-owned foreign financial assets. But investments of CIC are not merely regarded by the state as an instrument to influence the value of the yuan, they also reflect the state's attempt to better utilize its foreign exchange reserves to improve the nation's energy and resource security, and promote development of domestic industry. CIC's foreign investments have attracted global attention, but its support for China's SOEs through its banks might turn out to be more significant. Date: 2012 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:rjapxx:v:17:y:2012:i:2:p:253-267 Ordering information: This journal article can be ordered from DOI: 10.1080/13547860.2012.668027 Access Statistics for this article Journal of the Asia Pacific Economy is currently edited by Leong Liew More articles in Journal of the Asia Pacific Economy from Taylor & Francis Journals |
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