I am confused between SASAC and CIC in China. Are they both Sovereign wealth funds? What are the relationships and ranking among them?
found on web:
Especially, it is believed CIC is a full
ministerial-level enterprise, ranking higher than common SOEs under the supervision of
the central government SASAC, for its chairman Lou is the former vice SecretaryGeneral of the State Council, a full ministerial-level position and all the other directors
are deputy-ministerial cadres. Therefore, in terms of administrative ranks, CIC is a rare
enterprise controlled directly by the State Council and enjoys the same political status as
PBOC, SASAC, Finance or Commercial Ministry. This special arrangement preserves its
independence and protects its operation from governmental interference on the one hand,
and shadows CIC with non-commercial motivation as well as low risk awareness and
market sensitivity, on the other hand.