cic-responds-to-its-critics

CIC responds to its critics

Jesse Wang, chief risk officer at China Investment Corporation, reiterates the fund has purely commercial objectives.

By Liz Mak

April 02, 2008

It was only last week that US presidential hopeful Hillary Clinton said she thought China was buying too many US Treasury securities. Speaking at the Credit Suisse Asian Investment Conference yesterday, Jesse Wang, chief risk officer at China Investment Corporation CIC, China's $200 billion sovereign wealth fund, took the opportunity to dispel some conspiracy theories about the government's investments.

By WangÆs own admission, the speech was largely a PR exercise to set things straight in the minds of foreign investors. CIC has been in the spotlight since it was established in September 2007 and took a stake in US private-equity group Blackstone. Wang acknowledged that sovereign wealth funds have been given a bad name...

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