China Investment Corp (CIC), the nation's $200 billion sovereign wealth fund, made a profit of $10 billion in 2008, Shanghai Securities News quoted an unnamed source as saying.
That would put the CIC's annual return at 5 percent, notwithstanding its controversial investments in US private equity firm Blackstone and investment bank Morgan Stanley. CIC has lost more than half of the $8 billion it invested in the two firms.
Officials from CIC declined to comment.
The source said CIC had $90 billion invested in highly liquid financial assets, including treasury bills and bank notes. These investments yielded a pretax income of $3 billion.
Meanwhile, CIC has also received considerable dividends from its stakes in domestic financial institutions such as China Construction Bank and Bank of China, the source said.