China Investment Corporate Ltd. (CIC), the country's state forex investment company set up to make better use of its huge foreign exchange reserve, will invest in all markets worldwide except those with the settlement of exchange in Renminbi, board chairman Lou Jiwei said here Tuesday.

Lou, a delegate to the 17th National Congress of the Communist Party of China (CPC), made the remarks on the sidelines of the congress.

"The company will operate in a completely commercial way. Some media reports said that China has political considerations behind the company, I think that is an unnecessary worry," Lou said.

The company that was inaugurated late last month has a board of directors and a supervisory committee, which ensures its commercial operation, Lou said.

It is now working on corporate regulations and building up its team, according to Lou.

The company will communicate with international financial institutions, multinational organizations and supervisory institutions in related countries, he said.

The registered capital of 200 billion U.S. dollars of the corporate all comes from the forex reserve of the country, which will be obtained with the issuance of 1.55 trillion yuan special treasury bonds by the Ministry of Finance.

China's foreign exchange reserve reached 1.43 trillion U.S. dollars by the end of September, up 45.1 percent year-on-year, according to the People's Bank of China.

In May, the new company, still in preparation, made its first investment in non-voting shares, valued at 3 billion U.S. dollars, in the U.S. private equity firm, the Blackstone Group.

(Xinhua News Agency October 12, 2007)