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Our development objective is to become a stable, professional, responsible and prestigious international institutional investor and our investment activities adhere to the following basic principles:

The investment activity is based on a business purpose and the investment objective is to maximize shareholders' equity within an acceptable risk range.

As a financial investor, do not seek control over the investee business.

As an institutional investor, we strictly abide by the relevant laws and regulations of our country and the recipient country or region, and actively fulfil our corporate social responsibility.

Investment activities are driven by research and asset allocation, aiming to make investment decisions prudently and carry out investment activities in a rigorous and regulated manner.


We plan investment strategies from the perspective of the past portfolios, carry out asset allocation and portfolio analysis and conduct portfolio management to ensure the integrity, discipline and stability of the future portfolio.

We take advantage of long-term investment to have a strong ability to bear risks of short-term market fluctuations and obtain an illiquidity premium.

We reduce portfolio volatility and control the downside risk of portfolios by diversifying investment among various risk factors.



We have established a scientific, rigorous and effective investment decision-making system for overseas investment. Investment decision-making at all levels have an orderly division of labour and are organically connected. The foundation is laid for effective investment.

At present, we set up an Asset Allocation and Investment Policy Committee, as well as a Public Market Investment Decision-Making Committee, a Non-Public Market Investment Decision-Making Committee and an Asset Allocation Dynamic Adjustment Committee. The aforementioned committees implement different levels and categories of investment decisions. In order to further improve the efficiency and quality of investment decision-making and clarify the relationship between rights and responsibilities in investment management, we also promulgated the corresponding investment decision-making management system and authorization scheme.

The Asset Allocation and Investment Policy Committee, the Open Market Investment Decision Committee, the Private Market Investment Decision Committee and the Asset Allocation Dynamic Adjustment Decision Committee formulate investment strategies and policies, performance and risk objectives in accordance with the guidelines determined by the Board of Directors and the Executive Committee. We correspondingly revise or formulate our own investment management systems and procedures; hold regular (or ad hoc) meetings to review investment proposals and make investment decisions independently.


We always adhered to the position as a responsible investor. On the basis of summarizing our own practice and the experience of global partners, the following sustainable investment policies are formed.



Sustainable investment incorporates environmental, social responsibility and corporate governance into investment practices, aiming to achieve an organic unity of economic and social benefits. As long-term institutional investor, our practice of sustainable investment is a concentrated expression of the implementation of new development concepts, which is conducive to the long-term sustainable development of the global economy, as well as the prevention and mitigation of major systemic risks.


As a responsible national sovereign wealth fund, we follow the following principles in investment management:

  Throughout the entire investment process: systematically incorporate ESG considerations in all aspects, so as to achieve full coverage;

   We follow international practices, continuously improve the ESG evaluation standards and carry out high-quality sustainable investment;

   Our employees earnestly raise their awareness and enhance their awareness in their daily words and deeds, so that the ESG concept can truly take root and become a common practice.


We will implement sustainable investment from the following perspectives, maximize the dividends of global common prosperity and achieve value with responsibility.

  We grasp sustainable investment opportunities: in mature public market stocks with economies of scale, increase the explicit allocation of indices to capture active investment opportunities; in the non-public market, we establish sustainable investment directions.

   ESG considerations are embedded in the entire investment process: from investment project evaluation and selection, due diligence, investment decision-making, to post-investment management and exit.

   Optimize the negative list mechanism: improve the dynamic management mechanism of the negative list and adhere to the bottom-line thinking.

   Close exchanges and cooperation: conduct communication and dialogue with peer institutions and related organizations, track and study the frontier trends in the ESG field and provide institutional experience for sustainable investment development; play the leading role of sovereign wealth funds and leverage private-sector financial support.

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