The China Investment Corporation Ltd. (CIC), a government-owned foreign exchange (forex) investment company set up to efficiently utilize the country's huge forex reserves, 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 Tuesday.
Lou, a delegate to the 17th National Congress of the Communist Party of China (CPC), made the remarks on the sidelines of the congress.
CIC was inaugurated late last month. All its registered capital of US$200 billion comes from the country's forex reserves, which will be obtained with the issuance of 1.55 trillion yuan special treasury bonds by the Ministry of Finance.
By the end of September China's foreign exchange reserve had reached US$1.43 trillion, or up 45.1 percent year-on-year, according to the People's Bank of China.
(Xinhua News Agency October 16, 2007)
