01.07.2013 - Meet the likely new boss of China’s $500 bln sovereign wealth fund
After three months of searching, China may have finally suckered someone into running its $500 billion sovereign wealth fund. As we’ve reported before, the position isn’t a coveted one thanks to some potentially disastrous investments. According to reports, officials are expected to name Ding Xuedong, currently deputy secretary general of the State Council, to lead China Investment Corp (CIC). Reuters reports that the announcement was already made this afternoon within the fund. How Ding got roped into a post that other candidates have squirmed out of (paywall) isn’t clear. Ding, 53, hails from Changzhou city, in the southern province of Jiangsu. A Phd in economics, he’s been a party member since the 1980s.......................................Full Article: Source