Firms in such a position are not eligible for further loans from commercial banks, according to the official, so Cinda’s fund is filling that gap.
CIC's total investment income was $114.46 billion, versus $83.03 billion in 2016, its 2017 report showed on Monday.
According to Rhodium Group, a leading independent research provider in the US, Chinese direct investment in the US in the first five months of this year totaled just 1.8 billion US dollars
The Beijing-based firm has about 8 percent of its overseas portfolio in hedge funds, making it one of the world’s largest investors in the industry, she said.
Such offshore funds numbered a mere 92 in June 2011, but the figure has continued to rise, reaching 732 at the end of 2016.
The moves, disclosed in interviews and public remarks this week, add to pullbacks from stocks worldwide as tensions rise between the world’s two biggest national economies and investors eye the end of a global growth cycle.
The fund will invest in the Chinese onshore capital market, leveraging the firm's expertise in combining technology and big data to seek investment returns, the company said in a statement.