China Investment Corporation, the fledgling $200bn sovereign wealth fund, has been savaged domestically for losing more than $4bn with misjudged investments in Blackstone and Morgan Stanley.
Meanwhile, China's secretive State Administration of Foreign Exchange is estimated to have lost 20 times more than CIC through a poorly timed diversification into global equities but has not faced any criticism.
CIC has also faced criticism from western politicians and commentators who say it is an opaque proxy for the Communist party's global ambitions.
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