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Ding XuedongChairman and CEO of China Investment Corporation
Country:
 China |
Content:
- Biography of Din Xuedong
- Education and Early Career
- Career at the Ministry of Finance
- Roles at CIC and Other Positions
- Collaboration with Russian Direct Investment Fund
- Achievements and Recognition
Biography of Din Xuedong
Din Xuedong, born in 1960 in Jiangsu, China, is the Chairman and CEO of China Investment Corporation (CIC), one of the world's largest sovereign wealth funds. He was appointed to this position in July 2013, overseeing assets worth approximately $575.2 billion.
Education and Early Career
Xuedong specialized in finance during his studies at the School of Financial Science, where he earned a master's degree and later a doctorate. He began his career in 1977 and joined CIC in 1984. From 1994 to 1998, he served as the Director of the Committee for Control and Management of State-owned Assets under the State Council of China.
Career at the Ministry of Finance
During his tenure at the Ministry of Finance from 1998 to 2008, Xuedong held various positions, including Deputy Minister, Director of the Education Department, the Agriculture Department, and the Department of State Capital Management. He also served as the Deputy Secretary-General of the State Council and the Deputy Director of the National Committee for Disaster Reduction.
Roles at CIC and Other Positions
In 2003-2004, Xuedong was the General Manager of the Three Gorges Dam Construction Committee, and from 2008 to 2010, he served as the Vice Minister of Finance. In 2013, he was appointed Chairman and CEO of CIC, as well as Deputy Director of the State Council Poverty Alleviation and Development Leading Group.
Collaboration with Russian Direct Investment Fund
Currently, China Investment Corporation collaborates with the Russian Direct Investment Fund (RDIF). Together, they have established the Russia-China Investment Fund (RCIF), which has been successful in its development. Xuedong has stated that CIC is likely to increase its investments, particularly in agriculture and pharmaceutical production.
Achievements and Recognition
In the 2013 Forbes list of the "Most Powerful People in the World," Din Xuedong ranked 36th. He was preceded by Christine Lagarde, the Managing Director of the International Monetary Fund, and followed by Mexican President Enrique Pena Nieto.
