CIC: Some countries' rules threaten sovereign wealth funds
16 June 2008
China Investment Corp's president said sovereign wealth funds are facing a distorted investment environment due to tighter regulations implemented by Western countries, the Wall Street Journal reported. Gao Xiqing, who is also vice chairman of CIC, said stricter rules in some countries are a "real threat" that may discourage sovereign wealth funds from investing in those areas. He added that CIC once had to stop a deal because of such rules, but did not give further details. CIC is China's sovereign wealth fund, set up last September to seek better returns for part of China's foreign exchange reserves.