CIC reports $51.5b net profit in 2010

BEIJING - China Investment Corp (CIC) added $35.7 billion in new investment in 2010, which reduced the cash balance in the sovereign wealth fund's (SWF) overall portfolio from 32 percent to 4 percent, according to its 2010 annual report released on Tuesday.

CIC reported a net profit of $51.5 billion in 2010, with a net asset value of $374 billion. The annual return rate of its global portfolio reached 11.7 percent, and the accumulated annual return rate since establishment stands at 6.4 percent.

By comparison, Temasek Holdings Pte, Singapore's SWF, reported a 4.6 percent return rate in 2010.