Gao Xiqing, General Manager of the China Investment Corporation (CIC), said in an interview with "60 Minutes" of the Columbia Broadcasting System (CBS) that the CIC will gradually increase its transparency. However, he doesn't believes it is necessary to work with the International Sovereign Wealth Fund (SWF) rules.

Gao further added that the CIC will try to become as transparent as the Norwegian sovereign wealth fund, currently the most transparent of the world's 40 plus SWFs.

Gao claimed that China's investment is purely financially oriented rather than strategically oriented. China will not buy any company's controlling shares and will not exert its influence via investments. CIC is a passive investor and will not buy shares of any military companies.

For more details, please read the full story in Chinese. (http://www.china-cbn.com/s/n/000002/20080407/020000075520.shtml)

(China.org.cn April 7, 2008)