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China Investment Corporation

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2014

    Audit Office reports overseas investment losses; Blackstone investment paper loss exceeds 80%

    A 2014 audit by the National Audit Office found that China Investment Corporation’s overseas investments had problems including insufficient due diligence, inadequate post-investment management, and managerial dereliction of duty; some projects suffered losses, and clues involving suspected crimes and disciplinary violations were transferred to relevant authorities. In 2007, CIC invested US$3 billion in Blackstone and at one point had a paper loss of about 83%. CIC rectified the issues; in 2018 it cleared out its Blackstone shares.

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