SINGAPORE, Dec 21 (Reuters) - China Investment Corp, the Chinese sovereign fund, may receive $200 billion in new funds from the country's foreign exchange hoard, the Financial Times reported on Monday.
Citing unidentified government officials and people familiar with the $300 billion fund, the FT said that the amount earmarked would be similiar to the $200 billion handed to CIC when it was set up in 2007. A final decision had yet to be made, it said.
Bankers said in spite of losses on early investments, the fund had done well during the financial crisis and quickly switched its cash holdings into liquid U.S. dollar assets when the dollar bounced back in November 2008 and March 2009, the FT reported.
China's foreign exchange reserves are the largest in the world and rose by $141 billion to $2.27 trillion in the third quarter. The foreign exchange reserves regulator said earlier this month that the U.S. dollar remained the anchor of its cash pile despite efforts to move into other currencies and assets. (Reporting by Jan Dahinten; Editing by Valerie Lee)