China Investment Corporation (CIC) says its ten-year annualised net return through to 2024 was 6.92%, beating its target by 61 basis points.
The sovereign wealth fund, which manages China’s foreign exchange reserves, says annualised net return since it was established in 2007 was 6.39%.
According to Zhang Qingsong, chairman of CIC, 2024 was a “pivotal year” in executing the fund’s 2023-2025 strategic plan, and was dedicated to “building on past achievements to chart a course for future growth”.
“We sought to balance development with security, continuously optimised our asset allocation and investment strategies, diligently fulfilled our role as a fiduciary of state-owned financial capital, and achieved new progress in our high-quality development,” he says in CIC’s 2024 annual report published on its website on December 9.
The report says the wealth fund expanded its global office network last year and strengthened risk management capabilities.
CIC had US$1.37 trillion of net assets as of December 2024.
