China Investment Corp. (CIC), the $ 200 bn sovereign wealth fund, intends to be a socially responsible global investor by shunning industries such as gambling, tobacco and arms manufacturing, the fund??s president said on Friday.
We are looking at clean energy and environmentally-friendly investments,? Gao Xiqing, president of China Investment Corp, said at a conference in Beijing. CIC would look at ??everything cross-border except for casinos, tobacco companies or machine-gun companies?. As far as is publicly known, the fund has primarily invested in financial services.
Mr Gao also repeated his stance that CIC??s investments are not politically motivated and that the fund is committed to improving transparency.
