• Mon
  • Dec 22, 2014
  • Updated: 1:32pm

Lou Jiwei

New CIC sovereign fund boss faces greater challenges

Beijing has selected Ding Xuedong to lead CIC. Photo: Reuters

The new boss of China Investment Corp, the mainland's US$480 billion sovereign wealth fund whose chairmanship had been vacant for about five months, faces two immediate challenges - making more money from the fund's overseas investments and finding additional capital.

Wednesday, 3 July, 2013, 7:53am

Power struggle in Beijing leaves CIC leaderless

Huang Qifan, Chongqing Mayor

The chairman's office at China Investment Corp (CIC) has been empty for about three months since former chairman Lou Jiwei , who helped establish CIC in 2007, was promoted to become finance minister as part of the Communist Party's once-a-decade leadership transition earlier this year.

27 May 2013 - 6:32am 2 comments

Ex-wealth fund guru Lou Jiwei to be finance minister

Lou Jiwei. Photo: Bloomberg

Lou, known for his reformist outlook and preference for a market-oriented economy, was a deputy finance minister for 10 years before becoming head of China Investment Corp (CIC), the mainland's sovereign wealth fund, in 2007. His career has now turned a full circle with his appointment as finance minister.

17 Mar 2013 - 7:01am

Reformist wealth fund boss Lou Jiwei next finance minister

Lou Jiwei

Government sources said Lou, 62, would replace Xie Xuren to lead fiscal policy after the National People's Congress (NPC), which opens on Tuesday. The decision comes after Communist Party bosses including party chief Xi Jinping and premier-in-waiting Li Keqiang decided to keep Zhou Xiaochuan as central bank governor despite him reaching retirement age.

1 Mar 2013 - 4:55am

Sovereign wealth fund chief calls on government to respect law

Lou Jiwei may become finance minister. Photo: Bloomberg

"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.

27 Jan 2013 - 5:33am 1 comment

Beijing gives verdict on rest of world economies, and the forecast is grim

Europe has the worst economy in a world full of bleak markets. That was the verdict from China at the Boao Forum for Asia in Hainan yesterday.

However, its in-depth analysis of markets beyond the mainland also suggested Europe was still a good place to invest.

17 Apr 2011 - 12:00am

CIC's home bias makes good sense

Lou Jiwei is making soothing noises. Last week the head of the US$200 billion China Investment Corp promised the mainland's new sovereign wealth fund would not destabilise international financial markets.

3 Dec 2007 - 12:00am

State technocrat takes on job as global fund manager

A former soldier, computer programmer and economist, Lou Jiwei, head of China Investment Corp, does not have the typical profile of a US$200 billion investment fund manager.

But what he does have are management skills gained from leading a team of Finance Ministry technocrats who worked out the country's fiscal policy.

20 Aug 2007 - 12:00am

Milking nation's trillions could be hard

Lou Jiwei has a tough job ahead of him. Right now it does not look too hard. At the moment Mr Lou is one of the most sought-after players in international finance. As the boss of the mainland's proposed US$200 billion sovereign wealth fund, he holds the strings of a very large purse indeed.

12 Jul 2007 - 12:00am

Everyone wants to talk to the man with the money

Lou Jiwei, a former deputy minister of finance who was appointed last month to head what will be one of the world's biggest investment funds, has remained conspicuously absent from public view despite intense media interest at home and abroad ... and with good reason.

2 Apr 2007 - 12:00am

Beijing's vice-finance minister explains why Gitic was shut down

Lou Jiwei, Beijing's vice-finance minister, last night said it was central bank policy not to guarantee unregistered foreign debts by mainland firms, and that was why Gitic was shut down.

14 Oct 1998 - 12:00am

Zhu protege made finance vice-minister

A protege of premier Zhu Rongji has been made a vice-minister of finance, a statement said yesterday.

Former vice-governor of Guizhou, Lou Jiwei, has been recalled to Beijing, Xinhua said.

15 Apr 1998 - 12:00am