The Origins of Central Huijin

China Investment Corporation (CIC) is one of China's major financial institutions. CIC was established in 2007, and its domestic arm central Huijin originally was a special purpose vehicle. Central Huijin has been involved in restructuring Chinese banks since the early 2000s. It also participated in recapitalization of China development bank as well as China import and export credit insurance agency - commonly referred to as a sign offshore.