China’s official Xinhua Information Company reported Sunday that the nation plans to merge three of its largest state-owned managers of dangerous money owed into China Funding Corp. (CIC).
- China Cinda Asset Administration Co.,
- China Orient Asset Administration Co.
- China Nice Wall Asset Administration Co.
Xinhua cited unnamed sources.
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CIC is China’s US$1.24 trillion sovereign wealth fund
CIC was initially created to supervise funding of a portion of China’s overseas forex reserves
A unit of CIC, Central Huijin Funding Ltd., has been the first automobile for holding the Chinese language Communist Celebration state’s stake in lots of the nation’s largest monetary establishments.
