Tu set to be named as CIC head
Print Edition
SHANGHAI Executive Vice Mayor Tu Guangshao will be the next general manager of China Investment Corp, a sovereign wealth fund responsible for managing part of the country’s foreign exchange reserves.
He will oversee the investment of China foreign exchange reserves.
Tu, 57, will replace CIC’s current General Manager Li Keping, who is set to retire from the post, Jiefang Daily quoted a CIC source as saying.
Tu will be CIC’s third general manager and will be responsible for diversifying investment and maximizing returns of China’s foreign exchange reserves.
Tu had worked with the People’s Bank of China, Shanghai Stock Exchange and China Securities Regulatory Commission before being named Shanghai’s vice mayor in 2007. He has been the major force behind Shanghai’s effort to become an international financial center.
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