About four months ago, China’s sovereign wealth fund, China Investment Corp., announced that it would up the amount of money it pours into foreign investments by 30%. Now, CIC has about $90 billion to spend on assets abroad.

CIC has some complex dealings with internal state-owned banks, like the Agricultural Bank of China and China’s Development Bank. Not surprising, since on of CIC’s major funtions, indeed, the reason it was formed at all was to provide financial stability for China’s state-owned banks.

Near the end of last week, China’s Development Bank signed a $100 million loan contract with Banco de Chile (BCH:NYSE).

BCH is Chile’s second largest bank, and has also signed an agreement to open joint credit lines with CDB. According to the press release, CBD wants to invest in Chile’s “ports, bioceanic corridors and junior mining companies.

Chile is a major producer of copper, which is of great import to China. In fact, China’s capital investment in infrastructure like roads, factories, and property climbed 27.3% in the first half of 2008. That’s more than was expected, and this continued growth is sure to keep demand high for industrial metals like copper.

This should come as no surprise to any of you who have been keeping up with the sovereign wealth fund story. Barely a month ago, Kuwait announced it would boost investments in stocks, bonds and real estate in China, India and Japan.

But I did find one interesting story…

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Ask your stockbroker if he reads Cement World. If he says no, fire him immediately.

Here’s why…

When it comes to commodities, cement could be the next oil of emerging-market investors.

In particular, North Africa’s soaring cement prices present a promising ground-floor opportunity, reported a recent article in Cement World. North African cement is one of those gems that once again proves emerging markets could be far more lucrative than the U.S. providing you know where to look — including Cement World.

Sure, cement is as boring as it sounds. You never hear about cement wildcatters or Somali pirates hijacking a boatload of cement. The most exciting thing you probably know about cement is that the Wise Guys in New Jersey use it to make a pair of boots for some deadbeat taking a one-way trip down the Hudson.

Given the headlines, the most obvious conclusion to draw about cement is that the construction bust in the U.S. put a world of hurt on the industry. And if you only considered U.S. cement makers you’d be right.

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