National Audit Office Discovers Problems at Chinese Sovereign Wealth Fund
Posted on 06/19/2014
China’s National Audit Office concluded in an audit that the China Investment Corporation (CIC) mismanaged a portion of international investments from 2008 to 2013 that led to losses. One key finding was that CIC employees failed to conduct adequate due diligence before investing capital in 12 overseas projects in the past 6 years. The auditor […]
