China CIC to inject $3.1 billion into Sinosure: sources

BEIJING Thu May 26, 2011 3:18am EDT

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BEIJING (Reuters) - China Investment Corp CIC.UL, 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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