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词条 China Investment Corporation
释义

  1. History

  2. Governance

     Board of Directors  Board of Supervisors  Executive Committee   International Advisory Council  

  3. Subsidiaries and minority interests

  4. See also

  5. References

  6. External links

{{Use American English|date=January 2019}}{{Short description|Chinese sovereign wealth fund}}{{Use mdy dates|date=March 2011}}{{Infobox company
|name = China Investment Corporation
|logo =
|type = Sovereign wealth fund
|genre =
|foundation = Beijing, China (2007)
|founder =
|location_city = Beijing
|location_country = China
|location =
|locations =
|area_served =
|key_people = Ding Xuedong (Chairman and CEO)
Li Keping (Vice Chairman, President and CIO)
|industry = Investment service
|products =
|services =
|revenue =
|operating_income = {{profit}} US$ 74.474  billion (2015)[1]
|net_income = {{profit}} US$ 73.944  billion (2015)[1]
|assets = {{profit}} US$ 813.762 billion (2015)[1]
|equity = {{profit}} US$ 724.742 billion (2015)[1]
|owner =
|num_employees = 467 (2013)[1]
|parent =
|divisions =
|subsid = Central Huijin Investment
|caption =
|homepage = www.china-inv.cn
|footnotes =
|intl =
}}China Investment Corporation (CIC) (Chinese: 中国投资有限责任公司; pinyin: zhōngguó tóuzī yǒuxiàn zérèn gōngsī) is a sovereign wealth fund responsible for managing part of the People's Republic of China's foreign exchange reserves. CIC was established in 2007 with approximately US$200 billion of assets under management. At the end of 2015, the CIC had over US$810 billion in assets under management.[2]

History

As of 2007, the People's Republic of China has US$1.4 trillion in currency reserves,[7] while this had grown by 2013 to US$3.44 trillion.[2] The China Investment Corporation was established with the intent of utilizing these reserves for the benefit of the state, modeled according to Temasek Holdings of Singapore. The state-owned Central Huijin Investment Corporation was merged into the new company as a wholly owned subsidiary company.[3]

Special national debt bonds were issued to create the capital that the CIC needed. 1,550.35 billion yuan ($207.91 billion) was issued in this bond sale. The bond process was completed in December 2007. According to Lou Jiwei, the CIC needs to make a profit of 300 million Yuan every day just to pay the interest on the bonds and operation costs. The CIC paid its first interest on the bonds in February 2008 where it paid 12.9 billion yuan.[4]

In 2008, CIC joined the International Forum of Sovereign Wealth Funds[5] and signed up to the Santiago Principles on best practice in managing sovereign wealth funds.[6]

In 2010, CIC established a new subsidiary, CIC International (Hong Kong) Co in Hong Kong and appointed Lawrence Lau as its chairman.[7]

In 2011, CIC established its first foreign office in Toronto, choosing it over financial centres such as New York or London as its first office. Felix Chee will be the chief representative officer[8]

In September 2013, the fund acquire a 12.5% stake in Russian potash fertiliser company Uralkali for a rumoured $2 billion.[9]

In March 2014, the CIC acquired a $40 million stake in iKang Health Group.[10] In October 2015, the CIC provided capital in a deal between Carnival Corporation and China State Shipbuilding Corporation[11]

In October 2015, CSSC Carnival Cruise Shipping, a joint venture between the CIC, the China State Shipbuilding Corporation, and Carnival Corporation & plc, was founded, with operations expected to commence in 2019.[12][13]

In January 2017, acquired a 45% stake in 1211 Avenue of the Americas, NYC which values the building at $2.3 billion.[14] On May 31, 2017, it was reported that China Investment Corp. was in talks to possibly purchase a Logicor, a European warehouse company, from The Blackstone Group L.P. for $13.49 billion. Other companies were also bidding for Logicor.[15] CIC to buy $3 Billion stake with Blackstone Group in 2007.[16][17]

Governance

The management and board of the China Investment Corporation ultimately reports to the State Council of the People's Republic of China. The China Investment Corporation is seen as being "firmly entrenched" in the political establishment as the composition of its board of directors implies "considerable influence on the part of China’s Ministry of Finance."[18]

Board of Directors

  • Chairman & CEO - Ding Xuedong[19]
  • Vice Chairman, President & CIO - Li Keping
  • Executive Director, Executive Vice President & COO - Zhang Hongli
  • Non-Executive Director - Zhang Xiaoqiang
  • Non-Executive Director - Li Yong
  • Non-Executive Director - Fu Ziying
  • Non-Executive Director - Liu Shiyu
  • Non-Executive Director - Hu Xiaolian
  • Independent Director - Liu Zhongli
  • Independent Director - Wang Chunzheng
  • Employee Director - Li Xin

Board of Supervisors

  • Chairman of Board of Supervisors - Guo Haoda
  • Supervisor - Linghu An
  • Supervisor - Wang Huaqing
  • Supervisor - Fan Fuchun
  • Employee Supervisor - Cui Guangqing

Executive Committee

  • Chairman & CEO - Ding Xuedong
  • Vice Chairman, President & CIO - Li Keping
  • Chairman of Board of Supervisors - Guo Haoda
  • Executive Director, Executive Vice President & COO - Zhang Hongli
  • Executive Vice President - Peng Chun
  • Executive Vice President & Deputy COO - Fan Yifei- left CIC, announcement 12 March 2015[20]
  • Executive Vice President & Deputy CIO - Xie Ping
  • Executive Vice President & CRO - Wang Jianxi
  • Member of the Executive Committee - Liang Xiang

International Advisory Council

Asia
  • Zeng Peiyan (China)
  • Shaukat Aziz (Pakistan)
  • Justin Yifu Lin (China)
  • Frederick Ma (Hong Kong, China)
  • Yingyi Qian (China)
  • Andrew Sheng (Malaysia)
  • Joseph Yam (Hong Kong, China)
Africa
  • Omari Issa (Tanzania)
  • John H. Maree (South Africa)
Americas
  • David Denison (Canada)
  • Merit E. Janow (United States of America)
  • Jorge Paulo Lemann (Brazil)
  • John J. Mack (United States of America)
  • John L. Thornton (United States of America)
Europe
  • Knut N. Kjaer (Norway)
  • Jean Lemierre (France)
Oceania
  • Peter Howard Costello (Australia)

Subsidiaries and minority interests

  • GDF Suez Exploration & Production International SA (30%; joint venture with Engie)[21][22]

See also

  • Foreign-exchange reserves of China
  • People's Bank of China
  • Sovereign wealth fund
  • State Administration of Foreign Exchange
  • SSBT OD05 Omnibus

References

1. ^http://www.china-inv.cn/wps/wcm/connect/62e332fc-8ddd-4eb9-b21c-b5cc3585e82a/CICAnnualReport2015.pdf?MOD=AJPERES&CACHEID=62e332fc-8ddd-4eb9-b21c-b5cc3585e82a
2. ^China Investment Corporation Profile. Sovereign Wealth Fund Institute. July 2, 2008. Retrieved August 27, 2013.
3. ^China Business: "China's trillion-dollar kitty is ready", Asia Times, October 2, 2007.
4. ^{{Cite news |first=Li |last=Liming |title=Day of Reckoning for China's Sovereign Fund |url=http://www.eeo.com.cn/ens/finance_investment/2008/01/31/92109.html |work=Economic Observer |date=January 31, 2008 }}
5. ^{{cite web |url=http://www.ifswf.org/members |title=IFSWF Our members |author=International Forum of Sovereign Wealth Funds |access-date=24 September 2016 |deadurl=yes |archiveurl=https://web.archive.org/web/20160927094338/http://www.ifswf.org/members |archivedate=September 27, 2016 |df=mdy-all }}
6. ^{{cite web |url= http://www.ifswf.org/santiago-principles-landing/santiago-principles |title=IFSWF Santiago Principles |author=International Forum of Sovereign Wealth Funds |accessdate=27 September 2016}}
7. ^{{cite web|url=http://www.ft.com/cms/s/0/90f5bb38-dba0-11df-a1df-00144feabdc0.html#axzz1CXu8eoKq |title=CIC launches Hong Kong subsidiary |work=Financial Times |date=October 19, 2010 |accessdate=March 8, 2011}}
8. ^{{Cite news|author=Canada |url=https://www.theglobeandmail.com/report-on-business/chinas-sovereign-wealth-fund-sets-up-shop-in-toronto/article1867917/ |title=China’s sovereign wealth fund sets up shop in Toronto |publisher=Theglobeandmail.com |date= January 12, 2011|accessdate=March 8, 2011}}
9. ^{{cite web| title=China gets 12.5 percent stake in Russia's Uralkali| author=Polina Devitt| publisher=PUBLISHER| url=https://www.reuters.com/article/2013/09/24/us-russia-uralkali-cic-idUSBRE98N05E20130924| date=24 September 2013}}
10. ^{{cite web| title=China’s Sovereign Fund to Acquire $40 Million Stake in iKang| work=Sovereign Wealth Fund Institute| url=http://www.swfinstitute.org/swf-news/chinas-sovereign-fund-to-acquire-40-million-stake-in-ikang/| date=27 March 2014| accessdate=July 15, 2014}}
11. ^{{cite web| title=CIC Backs Carnival Cruise Joint Venture| work=Sovereign Wealth Fund Institute| url=http://www.swfinstitute.org/swf-article/cic-backs-carnival-cruise-joint-venture//| date=22 October 2015| accessdate=25 October 2015}}
12. ^{{cite web | url=https://www.reuters.com/article/china-britain-carnivl/china-firms-carnival-corp-form-jv-to-launch-chinese-cruise-line-idUSL3N12L4RN20151021 | title=China firms, Carnival Corp form JV to launch Chinese cruise line | publisher=Reuters | date=21 October 2015 | accessdate=8 November 2018}}
13. ^{{cite web | url=https://www.cruiseindustrynews.com/cruise-news/19913-costa-atlantica-and-mediterranea-to-transfer-to-chinese-brand.html | title=Costa Atlantica and Mediterranea Sold to New Chinese Brand | publisher=Cruise Industry News | date=6 November 2018 | accessdate=8 November 2018}}
14. ^{{cite web|last1=Katz|first1=Rayna|title=Chinese Buyer Snaps Up Chunk Of Midtown Office Bldg.|url=http://www.globest.com//sites/raynakatz/2017/01/04/chinese-buyer-snaps-up-chunk-of-midtown-office-bldg/|publisher=globest.com}}
15. ^{{cite news |last=Grant |first=Peter |date=May 31, 2017 |title=China’s CIC in Advanced Talks to Buy European Warehouse Company from Blackstone |url=https://www.wsj.com/articles/chinas-cic-in-advanced-talks-to-buy-european-warehouse-company-from-blackstone-1496246060 | work=The Wall Street Journal |location=New York City, New York |access-date=June 1, 2017 }}
16. ^[https://www.nytimes.com/2007/05/20/business/worldbusiness/20cnd-yuan.html?mcubz=0 "China to Buy $3 Billion Stake in Blackstone"], The New York Times, MAY 20, 2007.
17. ^"CIC leads race for unit of Blackstone", China Daily, June 1, 2017.
18. ^A Review of Chinese-Language Literature on Sovereign Wealth Funds{{dead link|date=August 2017 |bot=InternetArchiveBot |fix-attempted=yes }}. - Oxford International Review. - (Adobe Acrobat *.PDF document)
19. ^{{cite web|title=China appoints Ding Xuedong as new CIC chairman -sources|url=https://www.reuters.com/article/2013/06/28/cic-chairman-idUSL3N0F42ON20130628|accessdate=17 June 2014|date=28 June 2013}}
20. ^{{cite web|url=http://www.china-inv.cn/wps/portal/!ut/p/a1/pVNNc5swEP0rzcFHVQsIJB8pdhzcQD2xPQ5cGAHCVmoLApR-_PpiuTM9WXanOu1q3pN2973FKX7FqeKD3PNe1oofz3nqZTF4YAVrWELkP4LPYB59cZbhJnRGQHIdsNhQE__zIzHy7QWx7-MHC_-J0GcAIMyGcPbpaUanEUDo3eLvcIrTQvVNf8BJcZCKI6mGD03d9vw4gUN9EplQEziJUnIdNa3ouqwVR8E70emriqufshLy_FbD96IUndwrnRWyxAmjrHCIA8glFkOEeRRNc7tAAkRhAfVy4tE_ncCV48MtJZKRT68BAnDw-lzQLoiyVYgT65yoLjNSMo1uxSDrb91qbGwtf4mPDi1ontsVcp3cQoQSG-WECuSwkrl0yqxq7Cax9A_BZmxrAobBRvNZ6OtopQf78new95c4lnZnWfZFcYMpAmoGaFMbABfXaoDJlhpgUNso58bzLnL-g7-Wd6yyfHt_T_1xIWrVix89fv3vjdjdcuWuFaoULW5O2-32xN6qZ7cZYneI0deXeRXHKM3Zd__h4TeLBAxa/dl5/d5/L3dHQSEvUUtRZy9nQSEh/|title=China Investment Corporation|publisher=}}
21. ^{{cite web|url=https://www.engie.com/wp-content/uploads/2015/03/gdf-suez-management-report-and-annual-consolidated-financial-statements-2014.pdf|title=2014 Management report and annual consolidated financial statements|date=26 February 2015|access-date=21 February 2016|publisher=GDF Suez}}
22. ^{{cite web|url=http://www.engie.com/en/journalists/press-releases/engie-china-investment-corporation-signed-mou/|title=ENGIE and China Investment Corporation (CIC) signed MOU|date=30 June 2015|access-date=21 February 2016|publisher=Engie }}

External links

  • China Investment Corporation Website
  • Sovereign Wealth Fund Institute - China Investment Corporation

6 : China Investment Corporation|Sovereign wealth funds|Chinese companies established in 2007|Government-owned companies of China|2007 establishments in China|Companies based in Beijing

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