CIC warns commodity prices too high relative to global recovery
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China Investment Corp, the nation's sovereign wealth fund, believes world commodity prices are outpacing the global economic recovery, fueled by loose monetary policies worldwide, a top official said yesterday.
"Last year commodity prices rose by relatively big margins," Jesse Wang, CIC executive vice president and chief risk officer, said on the sidelines of the Chinese People's Political Consultative Conference in Beijing.
"Personally, I think the prices are a bit too high relative to the strength of real economic recovery," he said, adding that high commodity prices have complicated CIC's investment efforts this year.
Wang said CIC has now invested most of its money, and would have to adopt a more flexible asset allocation strategy if it does not receive more funds from the government.
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