China Investment Corp

China Investment Corp was set up by the Chinese government as a investment fund to scout to maximise its investment return . It was set up in 2007 with a war chest of US$200 billions under management

With the US$200 billions fund at hand, chairman Lou Jiwei had indicated that US$70 billions will be invested on oversea outside of China

It's first investment was paying US$3 billions for a 9% stake in Blackstone Group in May 2007. The investment had turn "sour" during the current subprime crisis when Blackstone Group share value had dropped almost 50% up to date.

Another high profile investment of US$3 billions acquiring 9.9% stake of Morgan Stanley in Dec 2007 was mentioned. This time round they are advised by New York based investment bank Lazard & Co to invest via convertable bond instead.

Other local investment include

* Acquire Central Huijin Investment that hold control stakes in China
three largest banks for US$67 billions

* Investment of HK$780 millions in Hong Kong IPO of China Railways Group

In turn China banks had turn to acquire stakes include British Barclays bank, South Africa Standard Bank Corp, Australia & New Zealand Banking Corp etc.

Currently China still holding about US$387 billions of US Treasury Bill and foreign-exchange reserves fund of US$1.53 trillions (as of dec 2007)

China Investment Corp is due to shift its office into the New Beijing Poly Plaza name translate into "Protecting the Profit". The challeng for now for CIC to deliver strong returns as impressive as its new headquarter office.