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Sovereign Wealth Funds Briefing - Categorized | Market

Asia’s SWFs must shed political shackles

Posted on 05 April 2013

The Chinese sovereign wealth fund is about to have a new chairman, according to the Beijing rumour mill, to be Hu Huaibang, currently the chairman of Bank of Communications, China’s fifth-largest bank. Whispers in the Chinese capital suggest several other senior figures in financial circles turned down the job after the previous incumbent, Lou Jiwei, departed to become the finance minister.
It is easy to understand why the job is not highly sought after, whether the rumours prove true or not. To be head of China Investment Corp is to be the subject of criticism in the press and social media whenever it looks like an investment has gone wrong. Fear of the downside of mistakes is pervasive………………………………………..Full Article: Source


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