China Investment Corporation (CIC), with US$814 billion under management, opened a representative office in New York city last Friday as the Chinese sovereign wealth fund moves to expand its global reach and investment capabilities.
Tu Guangshao, vice chairman and president of CIC said opening the branch is a strategic move to deepen partnerships and broaden its investment opportunities, especially in the U.S. CIC held an opening ceremony and investment seminar to mark the occasion.
The New York office, which is headed by chief representative Hong Zhang, is mandated to refine and strengthen CIC's investments in the U.S., which are of great significance to the fund's overall development, said Tu.
Tu said the new office will effectively leveraging New York's position as an international financial center to enhance engagement and cooper...
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