皇冠体育app

Beijing plans to restructure 皇冠体育app Investment Corporation (CIC) , including spinning off the sovereign wealth fund's domestic investment arm, Central Huijin Investment Ltd, 皇冠体育app Business News reported on Thursday, without citing sources.

The proposal is said to have been submitted to 皇冠体育app's State Council by a few central government departments, including the Ministry of Finance (MOF).

The government first plans to set up a new entity, CIC International, which will concentrate on the fund's overseas investments.

Huijin's accounts, which are currently included in CIC's books, will be reported separately, 皇冠体育app Business News said.

CIC will retain a controlling stake in both Huijin and CIC International.

The central bank will directly inject some 100 billion yuan ($15.68 billion) of fresh funds into CIC International but the exact size of the capital injection has not yet been confirmed, the newspaper said.

Under the plan, the MOF and the central bank will also become direct stakeholders in CIC International.

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