China Investment Corp (CIC), the US$200 billion Chinese sovereign wealth fund, will begin making investments in Japan’s equity market by next March, Reuters reported, citing Japan’s Mainichi Shimbun. According to the report, CIC is interested in taking minority stakes and is looking in particular at companies involved in resources and environmental-protection technology. The fund is treading cautiously as it seeks to avoid negative reactions to investments it makes abroad. A Chinese government think tank has researched potential reactions to the fund’s purchase of a 20% stake in a Japanese company. A recent governance scandal involving Asia Media, the first mainland company to list on the Tokyo Stock Exchange, led to an outcry in Japan over ethics at Chinese corporations. CIC expects to have US$80-90 billion of its assets available for investments abroad.