China’s sovereign wealth fund, China Investment Corp., has just announced profits and they are booming.
2009 profits for the fund were $41.66 billion, up significantly over 2008’s profits of $23.1 billion, according to China Daily. That’s an 83.4% change.
And all of these profits weren’t made just in the booming Chinese market. 11.7% of CIC’s profits were made outside the country.
The fund’s assets are now at $300 billion. That makes it the fifth largest in the world, according to most recent information.