CIC defends its investments

Gao Xiqing, president of China Investment Corp, the country’s sovereign wealth fund, defended CIC’s investments from criticism abroad, the Financial Times reported. Speaking at a global conference in Davos, Switzerland, Gao said, "I keep telling governments we should be the most welcome investor. [But they say]: ‘We want the money but we don’t want the people.’" Gao said political concerns were one element in the group’s decision to focus more on developing economies at the expense of investments in the US or Europe. However, other participants at the Davos conference also mentioned that CIC was looking into infrastructure investments in the United States, which the Obama administration has said would be welcome.