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China Investment’s overseas investment returns fall again
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China Investment Co, the sovereign wealth fund which worth US$740 billion, said today return on its overseas investments fell for a second year due to stronger US dollar and weaker commodity prices.
Return of its investment fell to 5.47 percent from 9.33 percent a year earlier, leading the cumulative annualized rate of return since establishment dropped to 5.66 percent from 5.7 percent.
Net income rose 2.5 percent to US$89.1 billion in 2014, according to Beijing-based company's annual report released today.
"The global economy recovered at a slower speed than expected in 2014," company's Chairman Ding Xuedong said in the report. "Against this backdrop, yields of major financial assets slid and commodity prices tumbled, further fueling competition for good-quality projects on a global scale."
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