BEIJING (XFN-ASIA) - China launched today its long-anticipated state-owned investment company today, that is intended to manage around 200 bln usd, or nearly one sixth of the nation's foreign exchange reserves. The China Investment Corp. will be headed by Lou Jiwei, a former vice finance minister, according to a statement issued by the new company, which took pains to stress the company's independence from government interference. 'The company will operate based on the principle of separating management and government,' said the statement issued at the grand opening in Beijing's recently erected New Poly Plaza. 'The ... (full story)