CIC formally announces new chairman
10 July 2013
By Hui Ching-hoo
Career bureaucrat Ding Xuedong was named chairman of sovereign wealth fund China Investment Corporation (CIC) on July 5. He replaces Lou Jiwei, who left the CIC in March to take up the post of minister of finance.
Before joining CIC, Mr. Ding served at the National Committee for Disaster Reduction as deputy director and worked for China’s State Council as deputy secretary-general.
CIC is ranked as the world fifth largest sovereign wealth fund by the Sovereign Wealth Fund Institute, and has total assets of approximately US$482 billion.
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