BEIJING, Sept. 21 (Xinhua) -- Total assets of China Investment Corporation (CIC), the country's sovereign wealth fund, reached 940.6 billion U.S. dollars at the end of 2018, according to the company's annual report.
CIC's 10-year cumulative annualized net return was 6.07 percent, 45 basis points higher than its 10-year performance target.
The year 2018 was highly challenging for international institutional investors, including CIC. But the company fared well due to its prudent investment strategy, said Peng Chun, chairman of CIC.
The company has also been actively participating in the Belt and Road Initiative, with investment in related countries exceeding 26 billion U.S. dollars at the end of August.
CIC, a wholly state-owned company, is a vehicle to diversify China's foreign exchange holdings and seek maximum returns for its shareholders within acceptable risk tolerance.
A single purchase
