CIC recovers US money market funds 5.4 billion dollar investment

In about two years time, CIC has been communicating with government regulators, such as the US Treasury and the Securities and Futures Commission, for the right to redeem money through legal channels "Caixin Net" (reporter Li Yu) China Investment Co., Ltd. (hereinafter called CIC) issued a notice today saying it was "a reserve fund management company" for the U.S.　　Reserve) 's money-market fund, the "main fund" (The Primary Fund), invested 5.4 billion of dollars in all of this year's July recovery.　　In April 2008 and May, CIC, for cash-management needs, invested 5.4 billion of billions of dollars in two times to the Primary Fund, the oldest money market fund in the United States, the Reserve fund management company's money market fund. September 16, 2008, due to the bankruptcy of Lehman Brothers, the Primary Fund, was forced to write off the holdings of $785 million trillion in Lehman bonds, the net unit value of the Fund also fell to 0.97 U.S. dollars. Money market funds fell below $1 trillion, a rare occurrence in decades of history.　　After that, the Primary fund also announced the liquidation.　　CIC's deputy general manager, the chief risk officer, Jianxi Wang as, at the time, briefed Caixin reporters on the timing of the CIC's redemption orders, which had been issued in writing confirming that it would return all of CIC's principal and interest.　　After the SEC suspended the return due to a temporary freeze on liquidation procedures, CIC has been communicating with government regulators, such as the US Treasury and the Securities and Futures Commission, to obtain the right to redeem the principal through legal channels. Since October 2008, the Primary Fund has made a seven-time return to CIC. As of July 2010, CIC had withdrawn all its investment funds.