"The very robust expansion of the economy in 2004 will imply slower growth next year, partly attributable to the high base effect, " said Friedrich Wu, director of the MTI's economic division.

BBC: NEWS | Business | Singapore economy in growth spurt

"This implies that the main purpose of establishing CIC...still has a long way to go, " said Friedrich Wu, an adjunct associate professor at the Nanyang Technological University in Singapore who has written several research papers on the fund.

WSJ: China's CIC Works on Funding Mechanism