China CIC to inject $3.1 bln into Sinosure -sources

BEIJING Thu May 26, 2011 3:04am EDT

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BEIJING May 26 (Reuters) - China Investment Corp , the country's $300 billion sovereign wealth fund, has won approval from the cabinet to inject 20 billion yuan ($3.1 billion) into the China Export and Credit Insurance Corp (Sinosure), three sources close to the deal told Reuters on Thursday.

Sinosure is the Chinese government's arm that promotes exports, and the agency has provided insurance for $116.6 billion worth of Chinese exports in 2009. (Reporting by Beijing newsroom; Editing by Ken Wills)

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