BEIJING, Dec. 19 (Xinhua) -- China Investment Corp. (CIC), the country's state forex investment company, said late Wednesday that it has agreed to invest five billion U.S. dollars in U.S. investment bank Morgan Stanley.

    The Chinese company will purchase equity units that are mandatorily convertible into 9.9 percent of Morgan Stanley common shares at maturity. The equity units carry a fixed annual interestrate of nine percent before the conversion on Aug. 17, 2010.

    The purchase is a long term, passive financial investment and doesn't lead to a role in management of Morgan Stanley, said a statement from CIC.

Editor: Du Guod