China Investment Corporation’s New Website

By Brett Keller

The China Investment Corporation has launched a new website promoting its image as a “world-class investment institution.” The website has information on CIC’s governance and investments as well as careers at CIC. (As mentioned in our previous coverage, the CIC has been trying to recruit more staff, especially Western-educated talent.)

The new CIC site also has press releases, the latest of which (Sept 27) announces the appointment of Jin Liqun to Chairman of CIC’s Board.

The section on governance features an organizational map:

The Governance section also features the abstract of CIC’s Articles of Association, short bios of the Board of Directors, Board of Supervisors, and seven-seat Executive Committee, as well as a list of CIC’s Functional Departments.

Under Investments, the new site lists the following four principles

  • CIC selects investments based on economic and financial objectives, and an assessment of the commercial return.
  • CIC allocates capital and assets within the given risk tolerance of the owner to maximize shareholder value.
  • CIC usually does not seek an active role in the companies in which it invests nor attempts to influence those companies’ operations.
  • CIC seeks long-term, stable, sustainable, and risk-adjusted return.

Also of note is the section of CIC’s use of External Fund Managers.

The Resources section is still a bit thin, featuring only press releases and PR-related speeches and interviews. It will be interesting to see if CIC uses this new site as a venue for the delivering hard data in the interest of promoting transparency, or if it stays basically as-is, a classy-looking but relatively information-light public relations tool. Given that the website is brand new, it’s probably too early to judge, and it certainly seems like a good start.

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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