China's CIC to get $50 billion boost: sources

BEIJING (Reuters) - China's $410 billion sovereign wealth fund China Investment Corp. is set to receive additional funding of up to $50 billion, two sources said, a step that could help it move quickly to buy overseas assets, especially in Europe. The new funding comes along with an agreement between relevant Chinese government agencies to give CIC new money to manage every year, the sources who had knowledge of the matter told Reuters on Friday. The sources asked not to be identified due to the sensitivity surrounding China's management of its foreign reserves. ...