China Investment Corp has new chairman

Ding Xuedong has been named chairman of China Investment Corp (CIC), the Asian powerhouse’s $500 billion sovereign wealth fund, according to Reuters.

By Staff | June 28, 2013 | Last updated on June 28, 2013
1 min read

Ding Xuedong has been named chairman of China Investment Corp (CIC), the Asian powerhouse’s $500 billion sovereign wealth fund, according to Reuters.

Read: China cautious after credit crunch scare

“Ding, a vice secretary general of China’s cabinet and a former vice finance minister…succeeds Lou Jiwei, who became finance minister in March. Although a range of officials were tipped to replace Lou after he left CIC, including former head of China’s securities regulator Guo Shuqing, the fund was without a chairman for three months,” the report explains.

Read more here.

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