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Xuedong DING Named New China Investment Corp Chairman
Source：MBA Education Center Date：2013/07/07 Click：0 Author：Pi Jun
| The State Council has appointed its deputy secretary-general Ding Xuedong as the new chairman of China Investment Corp, the country's sovereign wealth fund, according to a statement on Friday. Ding gained his master’s degree from Hubei University of Finance and Economics, the predecessor of ZUEL, in 1985. Prior to this appointment, Ding served as vice finance minister and deputy secretary general of the State Council. Ding is ZUEL’s third alumnus being appointed as head of financial organization. Before Ding’s appointment, Jun Wang was appointed as the director general of State Administration of Taxation; Guoli Tian, former chairman of China CITIC Bank, was appointed as the chairman of China Bank. What’s more, president of China CITIC Bank also graduated from ZUEL. CIC is a wholly state-owned company which runs the management of foreign exchange investment.CIC was established on September 29th 2007 with the issuance of special bonds worth RMB 1.55 trillion by the Ministry of Finance. These were, in turn, used to acquire approximately USD 200 billion of China’s foreign exchange reserves and formed the foundation of its registered capital. The board members of CIC are mainly former officers of PBOC and Finance Ministry. |
