Number: RL34337
Title: China's Sovereign Wealth Fund
Authors: Michael F. Martin, Foreign Affairs, Defense, and Trade Division 
Abstract: China established its major sovereign wealth fund, the China Investment Corporation (CIC) on September 29, 2007 - six months after it first announced its intention to create such a fund. Financed with $200 billion in initial capital, the CIC is one of the largest sovereign wealth funds (SWFs) in the world. A number of experts in international finance have expressed some concern about the recent growth in SWFs and China's creation of the CIC. Analysts have cautioned that major shifts in SWF investments potentially could disrupt global financial markets and harm the U.S. economy. Other experts are less concerned about SWFs and the CIC, and welcome their participation in international investment markets.
Pages: 29
Date: September 26, 2008