China’s sovereign wealth fund chooses new chairman

Great_Hall_of_the_PeopleChina’s sovereign wealth fund (SWF) has picked Peng Chun as its new chairman to lead the Beijing-based China Investment Corp. While the SWF has not made any formal announcements, the news has been widely reported by a number of organisations. Chun is set to join China Investment Corp, which has around $940 billion of assets, from the Bank of Communications where he is also the chairman. He will replace Ding Xuedong, who departed for a deputy secretary-general post at the State Council in 2017. Chun, 57, has previous experience with China Investment Corp between 2010 and 2013 when he was vice general manager. According to reports, Ju Weimin will replace Tu Guangshao as China Investment Corp’s general manager. ©2019 funds global asia

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