China CIC official: emerging markets a bad investment

BEIJING, March 4 Fri Mar 4, 2011 3:43am EST

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BEIJING, March 4 (Reuters) - It is not a good time to invest in emerging markets partly because of the inflationary pressure building up in them, a senior executive with China's sovereign wealth fund said on Friday.

Jesse Wang, an executive vice president with China Investment Corp (CIC) [CIC.UL}, told reporters that oil prices will stay at high levels and harm the global economic recovery.

Wang was speaking on the sidelines of a meeting of an advisory body to the Chinese parliament. (Aileen Wang and Zhou Xin; Editing by Simon Rabinovitch)