Wealth fund banks on Belt and Road to drive growth

CIC Capital to focus on long-term asset investments overseasSovereign wealth fund China Investment Corp, which started its overseas direct investment operations on Monday through CIC Capital Corp. will be among the select group of financial institutions that will participate in the key projects associated with the Belt and Road Initiative.

A report from Caixin.com said that CIC Capital, which was established on January 20, might have got a $100 billion capital infusion from the Ministry of Finance through a bond issue. Neither the sovereign wealth fund manager nor the Ministry of Finance provided further information on Wednesday.

If the CIC Capital has indeed received such a huge capital infusion, then it will be the largest Chinese fund targeting long-term asset investments abroad, especially for infrastructure construction projects on the Silk Road Economic Belt and the 21st Century Maritime Silk Road.