China International Fund

China International Fund Limited is an official private Chinese company with its headquarters in Hong Kong and an office in Beijing. The company was founded in 2003 in Hong Kong and funded in large scale national reconstruction projects and the development of infrastructure in developing countries. China International Fund Limited has entered into agreements with the governments of Angola and Guinea closed, which provides various exploration projects in these countries. The agreements include investments in the billions. The company is suspected to be a covert state-owned company, the investment for the People's Republic of China makes as " key personnel have ties to Chinese state-owned enterprises and government agencies. "

Projects

The following projects will be funded:

  • Automotive industrial parks, social housing, public utilities, highway, railway and airport projects, General building projects, logistics centers, water and hydro -electric power projects, industrial zones, navigation projects, governmental and administrative complexes, as well as new district projects.

Corporate Structure

The US- China Economic and Security Review Commission published a report on investments of Dayuan, CIF and its subsidiaries in Africa, Latin America and the U.S. in July 2009. China International Fund is 99 % owned by Dayuan International Development Ltd.. The report called this company the " 88Queensway Group", named after the Hong Kong address for the headquarters of most of the subsidiaries. There are only suspicions that the CIF is owned by the People's Republic of China. On the other hand speak for the suspicion of state control, the fact that the chairman Lo Fong Hung Director of Sonangol Sinopec International Ltd., is a joint venture between the state-owned oil companies Sinopec of China and the Sonangol group of Angola. A CIF Director Wu Yang was mentioned as a vice chairman of Sinopec in a March 2006 UN report.

Angola

In a conversation between the U.S. ambassador to Angola Dan Mozena and the Chinese ambassador to Angola, Zhang Bolun said the latter in early 2009, the CIF Angola make many promises and although the company was so present in Angola, are due to their weak management and lack of implementing many projects stalled, such as the construction of the Angola International Airport. Zhang said the CIF was a " private company " and the Chinese Embassy is taking part in is not active or supervise the relations of the company with Angola. He added that the CIF and its Hong Kong-based owner benefited from their " close relationship " with President dos Santos.Angola also received in 2005 2004 and apparently - 2006 a credit line of the China Exim Bank of 2 billion U.S. dollars for the original twelve various projects granted. In May 2007, a further 500 million U.S. dollars were launched. In addition, the Angolan government also receives from the China International Fund Ltd.. loans in Hong Kong in the order 2.9 to 9.8 billion dollars.

Strategic Partnerships

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