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Sovereign Wealth Funds Briefing - Categorized | People, Trends

Power struggle in Beijing leaves CIC leaderless

Posted on 28 May 2013

Empty chair in sovereign wealth fund’s corner office worries investment industry observers and casts shadow over economic reform plans. China’s US$480 billion sovereign wealth fund may well have to wait a few more months before it gets its new chairman, thanks to a power struggle in Beijing.
The chairman’s office at China Investment Corp (CIC) has been empty for about three months since former chairman Lou Jiwei , who helped establish CIC in 2007, was promoted to become finance minister as part of the Communist Party’s once-a-decade leadership transition earlier this year……………………………………..Full Article: Source


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