CIC requests more money for investment

China Investment Corp has requested more money from the government because it has depleted its current pool of capital, the Wall Street Journal reported. CIC Executive Vice President Wang Jianxi said on the sidelines of a forum in Beijing that China’s sovereign wealth fund has "no more money for new investment." While China’s regulators have said in the past that they are studying whether to offer CIC more funds, they have also indicated an intention to allow private investors to be more active abroad. Wang also said at the conference that the large amount of US dollar-denominated assets in the country’s foreign-exchange reserves posed more of a risk than the value of the US dollar or US Treasuries per se.