China’s state firms to pay US$260 billion in profits to help fund Beijing’s spending spree

China Investment Corporation, the sovereign wealth fund, and China National Tobacco Corporation, the world’s biggest cigarette maker, are among the financial institutions and monopolies that will pay surplus profits from previous years. Photo: Imaginechina

China Investment Corporation, the sovereign wealth fund, and China National Tobacco Corporation, the world’s biggest cigarette maker, are among the financial institutions and monopolies that will pay surplus profits from previous years. Photo: Imaginechina

South China Morning Post

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