China's official Xinhua News Agency reported Sunday that the country plans to merge three of its biggest state-owned managers of bad debts into China Investment Corp. (CIC).

  • China Cinda Asset Management Co.,
  • China Orient Asset Management Co.
  • China Great Wall Asset Management Co.

Xinhua cited unnamed sources.


CIC is China's US$1.24 trillion sovereign wealth fund

CIC was originally created to oversee investment of a portion of China’s foreign currency reserves

A unit of CIC, Central Huijin Investment Ltd., has been the primary vehicle for holding the Chinese Communist Party state’s stake in many of the country’s largest financial institutions.

china cic wealth fund 19 May 2023