CIC likely to invest in UK

China Investment Corp (CIC), the country's $200 billion sovereign fund, is considering investing in the UK, the Lord Mayor of the City of London disclosed yesterday after meeting with senior CIC executives.

"CIC's investment in the UK will help other Chinese enterprises better tap overseas markets as the UK serves as a gateway to other European countries," said Ian Luder, the Lord Mayor of the City of London, a geographically small city of about one sq mile radius within Greater London and its financial services hub.

At the Boao Forum in April, CIC Chairman Lou Jiwei said the fund would consider investing in Europe this year, after avoiding the continent last year because of trade barriers.