China International Fund (CIF) is a Chinese-owned group of Hong Kong investors that describes its major businesses as including "large-scale national reconstruction projects and infrastructure construction in developing countries". The CIF and its associated companies in Hong Kong and Singapore invested upwards of $US 20 billion mainly in unstable African dictatorships. They have made agreements with the Angolan and Guinean governments to explore for various resources in those countries. These agreements will result in billions of dollars of money being invested in the two countries. The Company is under the suspicion of being a state-owned company because “key personnel have ties to Chinese state-owned enterprises and government agencies.”