China Investment Corporation

Governance

The CIC Board of Directors is mandated and authorized to oversee the company's operation and overall performance. Based on objectives and broad policy set by the State Council, the Board sets investment strategy and operational guidelines. Its mandate also includes: (i) deciding how to implement such strategies; (ii) identifying major issues that need to be reported to the State Council; (iii) appointing, and if required, authorizing the removal of management; and (iv) delegating responsibilities and establishing committees as necessary.

The Board also has the authority to carry out other functions according to the Law of the People's Republic of China, the company's Articles of Association, and other constitutive documents.

The Board of Directors has eleven seats and is composed of executive, non-executive, independent, and employee directors.

Mr. Lou Jiwei

Lou Jiwei

Chairman & CEO

Mr. Lou Jiwei is the Chairman and Chief Executive Officer of CIC. Immediately prior to this, he served as Deputy Secretary General (ministerial level) of the State Council. Previously he also served as Executive Vice Minister of Finance, Vice Governor of Guizhou Province, and Director General of the Macroeconomic Control Department of the State Commission for Restructuring the Economy.

Mr. Lou was born in 1950, and received a master's degree in economics from the Chinese Academy of Social Sciences and a bachelor's degree from Tsinghua University.

Mr. Gao Xiqing

Gao Xiqing

Vice Chairman, President & CIO

Mr. Gao Xiqing is the Vice Chairman, President, and Chief Investment Officer of CIC. Immediately prior to this, he served as Vice Chairman of the National Council for the Social Security Fund. He also worked as Vice Chairman at the China Securities Regulatory Commission, and General Counsel and the Director General of the Public Offering Supervision Department. In the 1990s, he also served as Deputy Chairman and Chief Executive Officer of the Bank of China International (Holdings) Limited.

Mr. Gao was born in 1953, and received a juris doctor degree from the School of Law of Duke University in the United States and a master's degree in law from the University of International Business and Economics in Beijing, China.

Mr. Zhang Hongli

Zhang Hongli

Executive Director, Executive Vice President & COO

Mr. Zhang Hongli is Executive Director, Executive Vice President, and Chief Operating Officer of CIC. Prior to joining CIC, he worked in the Ministry of Finance where he held various senior positions, including Vice Minister of Finance, Director General of the Budget Department, and Deputy Director General of the Educational, Scientific and Cultural Department.

Mr. Zhang was born in 1950, and holds a doctor's degree in economics from Dongbei University of Finance and Economics.

Mr. Zhang Xiaoqiang

Zhang Xiaoqiang

Non-Executive Director

Mr. Zhang Xiaoqiang is Non-Executive Director of CIC. He is currently Vice Chairman of the National Development and Reform Commission (NDRC). Prior to this position, he served as Secretary General of the State Development & Planning Commission (SDPC), a predecessor to the NDRC, the Director General of the Department of Foreign Investment at the State Planning Commission (a predecessor to the SDPC), and an economic counselor at the Chinese Embassy in the United States.

He was born in 1952, and holds a bachelor's degree in Economics from Peking University in China.

Mr. Li Yong

Li Yong

Non-Executive Director

Mr. Li Yong is Non-Executive Director of CIC. He is currently Vice Minister of Finance; prior to this he served as Assistant Minister of Finance. In his career, he also served as the Secretary General of the Chinese Institute of Certified Public Accountants; Director General of the World Bank Department under the Ministry of Finance; and Executive Director of the World Bank's China Office.

Mr. Li was born in 1951, and holds a master's degree in economics from the Research Institute for Fiscal Science under the Ministry of Finance.

Mr. Fu Ziying

Fu Ziying

Non-Executive Director

Mr. Fu Ziying is Non-Executive Director of CIC. He is currently Vice Minister at the Ministry of Commerce (MOFCOM). Prior to this he was an Assistant Minister of Commerce. Previously, he served successively in a number of senior positions in the Ministry of Foreign Trade and Economic Cooperation (MOFTEC), the precursor to MOFCOM, including as Director General of the Department of Planning and Finance. He also served as Director of Reanda Certified Public Accountants.

Mr. Fu was born in 1957, and holds a doctor's degree in economics from the Chinese Academy of Social Sciences.

Mr. Liu Shiyu

Liu Shiyu

Non-Executive Director

Mr. Liu Shiyu is Non-Executive Director. He is currently Vice Governor of the People's Bank of China (PBOC). Prior to his current post in the PBOC, Mr. Liu served as Assistant Governor of PBOC, Director General of PBOC's General Administration Department, Director General of PBOC's Banking Supervision Department, and Deputy Director General of PBOC's Banking Department. Before joining PBOC, Mr. Liu served as Deputy Director General of the Mortgage Business Department at the China Construction Bank.

Mr. Liu was born in 1961, and is a research fellow.

Madam. Hu Xiaolian

Hu Xiaolian

Non-Executive Director

Madam Hu Xiaolian is Non-Executive Director of CIC. She serves currently as Vice Governor of the People's Bank of China (PBOC) and concurrently as the Administrator of the State Administration of Foreign Exchange (SAFE). Before taking up her current position, she served as Assistant Governor of PBOC and Deputy Administrator of SAFE. Previously she worked in a number of departments in SAFE, serving as Director General of the Reserve Management Department, Deputy Director General of the Policy, Law, and Regulation Department, and Director of the Policy Research Office.

Madam Hu was born in 1958, and holds a master's degree in economics from the Graduate School of the People's Bank of China.

Mr. Liu Zhongli

Liu Zhongli

Independent Director

Mr. Liu Zhongli is an Independent Director of CIC. He is concurrently Chair of the Chinese Institute of Certified Public Accountants. Prior to this, he served as the Chairman of the Economic Commission under the Chinese People's Political Consultative Conference (CPPCC). Previously he served as the Chairman of the National Council for Social Security Fund, Director of the Economic Restructuring Office of the State Council, Minister of Finance, Commissioner of the State Administration of Taxation, Deputy Secretary General of the State Council, and Deputy Head of the Enterprises Management Advisory Commission under the State Council. He also served as Vice Governor of Heilongjiang Province in 1980s.

Mr. Liu was born in 1934, and is a college graduate.

Mr. Wang Chunzheng

Wang Chunzheng

Independent Director

Mr. Wang Chunzheng is an Independent Director of CIC. Previously, he was the Head (ministerial level) of the Office of the Central Leading Group on Financial and Economic Affairs. He also served as Vice Chairman (ministerial level) of the National Development and Reform Commission (NDRC) as well as its predecessor, the State Development Planning Commission (SDPC).

Mr. Wang was born in 1938.

Mr. Li Xin

Li Xin

Employee Director

Mr. Li Xin is an Employee Director and Head of Human Resource Department. Prior to this appointment in CIC, he held various positions in the State Administration (formerly “State Commission”) of Science, Technology and Industry for National Defense, including Deputy Director General of General Office, and Director General of Finance and Accounting Department. Previously, he had served as engineer in the Ministry of Aerospace Industry, division chief in the Ministry of Finance and Xinhua News Agency (Hong Kong Branch).

Mr. Li was born in 1960, and holds a Bachelor's degree in engineering from Shenyang Institute of Aeronautical Engineering.