On December 29, 2023, the Standing Committee of the National People’s Congress of the People’s Republic of China (PRC) passed the final version of the long-awaited new Company Law (2024.
Headquartered in Beijing, China Investment Corporation (CIC) was incorporated in September 2007 under the Company Law of China. CIC was established as a vehicle to diversify China’s foreign exchange holdings and seek maximum returns for its shareholder within acceptable risk tolerance. CIC is mandated to make overseas investments and equity investments in financial institutions in…