China Investment Corporation suffers losses in 2011 investment

The China Investment Corporation (CIC), the nation’s sovereign wealth fund, said Wednesday its overseas portfolio yield for 2011 stood at negative 4.3 percent due to slow recovery of global economy and the European debt crisis.

The accumulated annualized return since its founding in 2007 stayed at 3.8 percent, according to its 2011 annual report.

The fund confirmed it received 30 billion U.S. dollars of cash injection from the State Administration of Foreign Exchange, which meant the latter had become the shareholder of the fund.

But the company said the move would not affect company’s independence in investment decisions.

Xinhua