Lou Jiwei

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Lou Jiwei
楼继伟
Personal details
Born (1950-12-01) December 1, 1950 (age 63)
Yiwu, Zhejiang
Nationality Chinese
Political party Communist Party of China
Alma mater Tsinghua University
Chinese Academy of Social Sciences
This is a Chinese name; the family name is Lou.

Lou Jiwei (Chinese: 楼继伟; born December 1950), is a Chinese politician and Minister of Finance. Lou was Chairman and CEO of China Investment Corporation and formerly served as China's Vice Minister of Finance and as Vice-Governor of Guizhou.

Biography[edit]

Lou is a native of Yiwu, Zhejiang province. He was born in 1950, joined the Communist Party of China in 1973, studied in the computer sciences faculty of Tsinghua University in 1978, and did postgraduate work with the econometrics faculty of the Postgraduate School of the Chinese Academy of Social Sciences in 1982.[1][2]

After post graduate studies Lou worked as the deputy head of the financial and banking office group of the general office of the State Council. During the mid-1980s Lou went to work as the director of the Institute of Finance and Trade of the Chinese Academy of Social Sciences.[1] In 1995 Lou became the vice-governor of Guizhou Province and shortly thereafter became the vice-minister of finance. In 1999 he became a member of the academic affairs committee of the State Council.[1]

As a protégé of Premier Zhu Rongji, Lou played a pivotal role in overhauling the tax system of the People's Republic of China as well as managing its internal investments.[3]

In 2007, he served briefly as deputy secretary general of the State Council and became an alternate member of the 17th CPC Central Committee.[1]

China's US$2.1 trillion in foreign exchange reserves is the largest of such reservoir in history.[4] The sovereign wealth fund that Lou heads, China Investment Corporation, helps to invest a portion of that under his guidance.

At the first plenary session of the 12th National People's Congress in March 2013, Lou Jiwei was elected as Minister for Finance,[5] succeeding Xie Xuren.

Awards[edit]

In 2008, Time magazine considered Lou one of the 100 most influential people in the world.[6] Forbes Magazine considered him to be the 30th most powerful person in the world, according to their "Powerful People 2010" List.[7] In 2011 he was included in the 50 Most Influential ranking of Bloomberg Markets Magazine. Jiwei was listed as twelfth on aiCIO's 2012 list of the 100 most influential institutional investors worldwide.[8]

References[edit]