China Investment Corp’s cash holdings have been left depleted following last year’s splurge on overseas investments, the South China Morning Post reported. CIC executive vice president Wang Jianxi said the sovereign wealth fund’s cash holdings are “relatively low” and future investment is dependent on whether or not it can get another fund injection from the government. “If the government decides to give additional money to CIC, we will work out a new investment strategy. If not, we will make tactical adjustments and re-balance the asset allocation flexibly,” Wang said. CIC held 87.4% of its global portfolio in cash and equivalents at the end of 2008. In the second half of last year, CIC made almost US$10 billion worth of investments in commodity-related companies.