China Investment Corp. (CIC), the mainland's $575 billion sovereign wealth fund, is shifting its focus away from the energy sector towards investments in infrastructure in both developed and emerging markets, said Chairman and CEO Ding Xuedong.
"I am interested in investment opportunities in infrastructure around the world. In the next 5-10 years, infrastructure investment will be a big theme for both emerging and developed markets. So, we want to increase our investment to get better returns," Ding told CNBC on Tuesday.
CIC is also eyeing potential investment opportunities in agriculture and real estate, he added.
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"In the past, CIC has had an overweight position on energy because of strategic importance. But since the global financial crisis, especially in the last two years, the returns from energy investments have not been great. Going forward, we may continue to invest in the sector but we will be extra careful," Ding, who took the helm of the massive state investment vehicle around six months ago, said.
Half of the CIC's assets are currently in developed countries corresponding with the "strong" economic rebound in the U.S. and recovery in Europe, said Ding, adding that the fund plans to maintain an overweight position in developed economies.