Why China’s $1t wealth fund CIC is no longer in the big-bang deal space

The headquarter building of China Investment Corporation (CIC) is pictured in Beijing, China, March 1, 2016. REUTERS/Jason Lee

China’s sovereign wealth fund was set up in 2007 to much fanfare. It was supposed to be a vehicle that helped invest the country’s massive pile of foreign-exchange reserves abroad through big-ticket deals.

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