Sovereign wealth fund chief calls on government to respect law
With liberals pushing for reform to boost the administration's credibility, Lou Jiwei says government departments must follow laws
Chinese sovereign wealth fund chief Lou Jiwei yesterday urged the government to show greater respect for the law.
"When we talk about governing the nation based on law, government departments must first govern themselves based on law," Lou, chairman of the China Investment Corp, told a forum held by the China Centre for International Economic Exchanges.
Lou's comments reflect growing calls from Chinese liberals to push forward with legal reform, which many believe is critical to improving equality, reducing corruption, boosting government credibility and further freeing markets during the next decade.
On Wednesday, premier-in-waiting Li Keqiang said that the government's No 1 duty was to provide a safe, level playing field, governed by law, for business.
Lou is seen as a candidate to succeed Xie Xuren as finance minister in March. A key member of former premier Zhu Rongji's brains trust, Lou played a major role in reforming the country's economic and tax systems in the 1990s.
Newly elected Communist Party leader Xi Jinping pledged a few days ago to crack down on corrupt officials as part of his war against graft.