People moves

New CIO for China’s sovereign fund

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Li Keping has been appointed as the new chief investment officer of China Investment Corporation, replacing Gao Xiqing.

CIC, which has a registered capital of $200 billion, is attempting to diversify the exposure of the state’s foreign exchange assets through portfolio investments outside mainland China.

CIC recently established CIC International (Hong Kong) to take advantage of Hong Kong’s position as an international financial centre. Professor Lawrence J Lau, who had previously served as a member of CIC’s international advisory council, chairs the Hong Kong subsidiary.