 The United States-China Economic and Security Review Commission issued a report in July 2009 on investments of Dayuan, CIF and its subsidiaries in Africa, Latin America and the U.S.A.. China International Fund is owned to 99% by Dayuan International Development, which has about 30 subsidiaries.The report called these companies the ""88 Queensway Group"", after the Hong Kong address for headquarters of most subsidiaries.Files about the CIF does not give hard evidence of government ownership.