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China Investment Corp likely to invest in US high speed trains
By Zhao Chunzhe (chinadaily.com.cn)
Updated: 2010-01-13 17:26
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China's sovereign wealth fund China Investment Corporation (CIC) is now considering investing in US high speed trains, Shanghai Securities News reported.
A source was quoted as saying that CIC made big profit last year due to the global economic recovery and rebounding of the financial market, so the company hopes to expand its business in 2010.
CIC's return on capital is expected to exceed 10 percent in 2009, up from the 6.8 percent in 2008, analysts said. The company's investments in 2009 mainly focused on energy including electric power and infrastructure.
CIC's net profit totaled $23.13 billion in 2008, but the return on overseas investment was minus 2.1 percent due to weak market sentiment.
