China's Sovereign Wealth Fund: Developments and Policy Implications

China's Ruling executive body, the State Council, established the China Investment Corporation (CIC), a sovereign wealth fund, in September 2007 to invest $200 billion of China's then $1.4 trillion in foreign exchange reserves. As with other sovereign wealth funds worldwide, the CIC's existence allows China to invest its reserves in a wide range of assets, including stocks, bonds, and hedge funds. This new book explores the background, developments and policy implications of China's Sovereign Wealth Fund, as well as its potential effect on national security.