China Investment Corp, the country's US$300-billion sovereign wealth fund, suffered a 10% loss from investments, computing by market value, in May due to the tumbled U.S. and Europe equity markets, Jesse Wang, vice president and chief risk officer, said.

This year is challenging for CIC, Wang admitted. 

Wang made this remark during an Asian bank conference held in San Francisco Federal Reserve yesterday. CIC plans to ask for more capital injection from government, he added.

CIC had a sound business performance last year and its major overseas subsidiaries' return of investment exceeded 17%, said Wang.

Last month, Gao Xiqing, CIC president and chief investment officer, said the fund had no plan to reduce its investment in Europe in spite of the recent debt crisis that hit the euro zone, according to an earlier report from China Knowledge.

Established in September 2007, CIC manages China's abundant foreign exchange reserves.