China’s $900 billion sovereign wealth fund envisages doing more direct investing as part of a bold allocation shift. Li Keping, senior adviser and former CIO, spoke to AsianInvestor.
Li Keping, vice-chairman and CIO at China Investment Corporation, will reportedly be replaced in the former role, but that leaves questions over a succession plan for the CIO post.
China Investment Corporation CEO Ding Xuedong has taken on an additional role as head of investment bank CICC. The sovereign wealth fund says he will retain his current function.
General manager Gao Xiqing has retired from CIC, to be replaced by CIO Li Keping, report media, sparking speculation about a change in investment direction and reliance on external managers.
China Investment Corporation has appointed Li Keping, former vice-chairman of the National Council for Social Security Fund, to oversee its $332 billion in assets.