Changes tipped as CIC names new chairman
Early reports say Shanghai’ s executive vice-mayor Tu Guangshao has been named chairman of China's sovereign wealth fund, which may give it more allocation freedom.
Tu Guangshao will be nominated as the chairman of China Investment Corporation (CIC), China’s $410 billion sovereign wealth fund, according to local media reports.
The appointment, which a Shanghai-based source says has been confirmed, comes two months after former CIC chairman Lou Jiwei became minister of finance, and follows a reshuffle of senior financial figures as part of the transition to the new Communist party leadership under president Xi Jinping.
The move will not affe…
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