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Sovereign Wealth Funds Briefing - Categorized | People

Challenges for CIC’s new head

Posted on 06 August 2013

After a four month vacancy, China Investment Corporation (CIC) – China’s $500 billion sovereign wealth fund - has finally appointed a new head. On July 5, CIC announced on its official website that Ding Xuedong, deputy secretary-general of the State Council, will become CIC chairman.
The first and only previous CIC chairman, Lou Jiwei, left the fund in March after he was appointed as the country’s new finance minister. Since Lou’s departure, China’s leaders have been anxious to replace him, but few have been willing to accept the “hot potato.”………………………………………Full Article: Source


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