Lou Jiwei Chinese politician, investor Date of Birth: 12.1950Год Country: China

1. Biography of Lou Jiwei
2. Early Life and Education
3. Career
4. Chinese Investment Corporation
5. Recognition and Influence

Biography of Lou Jiwei

Lou Jiwei is a prominent Chinese politician and investor, known for his principle that "money should work". This principle extends to the impressive amount of foreign exchange reserves accumulated by China, which are managed by the Chinese Investment Corporation (CIC), an organization created specifically for this purpose. Currently, Lou Jiwei serves as the Minister of Finance and Chairman and CEO of CIC.

Early Life and Education

Lou Jiwei was born in Yiwu, Zhejiang Province, China in 1950. In 1973, he joined the ranks of the Communist Party of China. He completed his bachelor's degree in computer science at Tsinghua University in 1978. Later, Lou specialized in econometrics and continued his education at the Chinese Academy of Social Sciences, where he pursued his doctoral studies.

Career

After completing his studies, Lou Jiwei worked as a deputy head of the financial and banking division of the State Council. In the mid-1980s, he became the director of the Institute of Finance and Trade at the Chinese Academy of Social Sciences. In 1995, Lou Jiwei was appointed as the Vice Governor of Guizhou Province and soon after became the Vice Minister of Finance. In 1999, he became a member of the Committee on Scientific Affairs under the State Council.

Lou Jiwei is considered a protégé of Zhu Rongji, the former Premier of China, and played a crucial role in the overhaul of China's tax system. He also actively participated in managing domestic state investment processes. In 2007, Lou Jiwei briefly served as the Deputy Secretary-General of the State Council. He was also a reserve member of the 17th Central Committee of the Communist Party of China.

Chinese Investment Corporation

The Chinese Investment Corporation was established in 2007 to manage China's foreign exchange reserves, which were valued at trillions of dollars. Under Lou Jiwei's leadership, CIC actively invests a portion of these reserves. The company has expanded its investments abroad and made high-profile acquisitions, such as the purchase of a stake in the Russian company Uralkali in 2013.

Recognition and Influence

Lou Jiwei's achievements and influence have been widely recognized. In 2008, he was listed in Time magazine's "100 Most Influential People in the World". He was also included in Forbes' list of the world's most powerful people in 2010, ranking 30th. In 2011, Lou Jiwei was featured in Bloomberg Markets' "50 Most Influential People in the World". Additionally, he was recognized as one of the most significant and influential institutional investors in the world by aiCIO in 2012.