Five years of milestones

Updated: 2013-09-27 09:40

(China Daily)

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CIC was set up in September in Beijing. In December, the fund made its first investment of $5.6 billion in Morgan Stanley.


In January, the fund set up its investment and risk management panels.

Between April and October, the fund became a member of the International Working Group of Sovereign Wealth Funds and co-drafted and signed the Santiago Principles.


In July the fund made an investment of $1.5 billion in Canadian metal firm Teck Resources.

CIC set up the International Advisory Council.


In March, CIC invested $1.6 billion in Vancouver-based metals and mining company AES.

In November the fund opened CIC International (Hong Kong) Co Ltd.


In January, the fund decided to extend its investment horizon to 10 years.

CIC representative office was set up in Toronto.

In May, CIC hosted the 3rd annual meeting of the International Forum of Sovereign Wealth Funds.

In September it set up a new overseas arm, CIC International.

In December, the fund invested $3.15 billion in France's GDF Suez Exploration & Production International SA and $850 million in Atlantic LNG Co of Trinidad and Tobago.


In January, the wealth fund bought an 8.68-percent stake in UK's largest water and sewage company Thames Water.

In February, the fund published its 2012-16 Strategic Plan of Development.

In June it set up the Russia-China Investment Fund with the Russia Direct Investment Fund.

CIC Culture Consensus was set up in July as part of the fund's culture-building initiatives.

( China Daily European Weekly 09/27/2013 page7)