CIC to invest in all markets - chairman

Updated: 2007-10-16 13:03

BEIJING -- China Investment Corporate Ltd (CIC), the country's state forex investment company set up to make better use of its huge foreign exchange reserve, will invest in Hong Kong, Taiwan and all other markets worldwide except those with the settlement of exchange in Renminbi, board chairman Lou Jiwei said here in BeijingTuesday.

Lou, a delegate to the 17th National Congress of the Communist Party of China (CPC), made the remarks on the sidelines of the congress.

The registered capital of US$200 billion of the CIC that was inaugurated late last month all comes from the forex reserve of the country, which will be obtained with the issuance of 1.55 trillion yuan special treasury bonds by the Ministry of Finance.

China's foreign exchange reserve reached US$1.43 trillion by the end of September, up 45.1 percent year-on-year, according to the People's Bank of China.

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