July 11, 2017 / 4:12 AM / a month ago

China sovereign wealth fund CIC profit rises 1.88 percent in 2016

BEIJING, July 11 (Reuters) - China's sovereign wealth fund China Investment Corp (CIC) on Tuesday reported a 1.88 percent rise in net profit, boosted by stronger return on its overseas portfolio.

CIC's net profit rose to $75.3 billion in 2016, up from $73.9 billion in 2015, according to its annual report. Total investment income was $83 billion in 2016, compared with $76.7 billion in 2015. (Reporting by Matthew Miller; Writing by Shu Zhang; Editing by Stephen Coates)

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