China Investment Corp., China's sovereign wealth fund, received $30 billion from the Chinese government late last year, according to a report in The Wall Street Journal.

The money could aid the company in buying assets in Europe, Wang Jianxi, deputy general manager and chief risk officer of China Investment Corp., told China Daily. But The Journal reported comments from CIC executives that suggest their reluctance to invest in debt-ridden Europe.

CIC received the injection at the end of last year from the State Administration of Foreign Exchange, Jesse Wang, CIC's executive vice president, told reporters Sunday at the National Committee of the Chinese People's Political Consultative Conference.

CIC was founded in 2007, when the Chinese government gave it $200 billion of Chinese foreign-exchange reserves. The CIC took those reserves, long held in low-risk investments like U.S. Treasurys, and put them into more high-risk ventures that could also improve the reward. Global markets had been anticipating the government's decision on further funding for more than a year.

According to The Wall Street Journal, CIC's assets reached $410 billion at the end of 2010, when figures were last available. By then, the corporation moved funding into higher-risk propositions like private equity and hedge funds.

It was unclear whether CIC would invest in troubled Europe and its governments' debts. Last month, CIC Chairman Lou Jiwei said investments in European government bonds would be difficult for long-term investors like CIC, according to The Journal.

But when asked how the infusion of money would be sued, Jianxi said that the corporation in the short term, would devote itself to investing in the region, in an active way. He added that the company will aim to invest in emerging markets in the next five to 10 years.

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