China wealth fund eyes stabilizing role

China Investment Corp is keen to play the role of market stabilizer like other sovereign wealth funds that have bought into financial institutions hit by subprime woes, the head of CIC said on Thursday.

But Lou Jiwei said the $200 billion fund would need up to a year before it was ready to make major investments overseas.

"Currently, because of the subprime issue, some big financial institutions have reported problems. I have noticed that some sovereign wealth funds have injected capital into them," Lou said at a banking forum in Beijing.

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- Posted: 2007-11-29 09:41:15

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