China's top sovereign wealth fund quadruples in total assets in 8 years

A report says China's investment fund industry will continue expanding.

The total assets of the top sovereign wealth fund in China have quadrupled in eight years since its founding, according to the 2015 annual report released by the China Investment Corporation.

The CIC's total assets had grown to over $810 billion during the 8-year period, from $200 billion of registered capital in 2007.

The company's spokewoman Liu Fangyu says they have ramped up investment in assets that generate stable returns, and will further expand investment in this sector in this year.

"In 2016, we will better manage open markets of stocks and bonds as well as absolute returns strategies. We will also expand direct investment in long-term and stable assets such as real estate and infrastructure."

Headquartered in Beijing, the CIC was established to diversify China's foreign exchange holdings and seek maximum returns for its shareholders within acceptable risk tolerance.