Sovereign wealth funds, with their long reporting time, tend to put out annual reports that reflect the rear-view mirror rather than the present reality. With China Investment Corporation, it looks more like ancient history.
CIC’s annual report is always a long way in arrears of its own numbers, usually seven months or so, but this time it took until September 25, 2020 for the Chinese sovereign fund to announce its numbers for the year to December 31, 2019.
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