Lou Jiwei

Lou Jiwei (Chinese: 楼继伟; Traditional Chinese: 樓繼偉; born December 1950), is a Chinese politician, and current chair of the National Council for Social Security Fund. Lou was Chairman and CEO of China Investment Corporation and formerly served as China's Minister of Finance, Vice Minister of Finance and as Vice-Governor of Guizhou.

Biography

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. On 7 November 2016, Lou was replaced by Xiao Jie after confirmation in the National People's Congress Standing Committee.^[6]

Awards

In 2008, Time magazine considered Lou one of the 100 most influential people in the world.^[7] Forbes Magazine considered him to be the 30th most powerful person in the world, according to their "Powerful People 2010" List.^[8] 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.^[9]

References

12th State Council of the People's Republic of China (2013-2018)
Li Keqiang (Premier)
Vice Premiers	Zhang Gaoli Liu Yandong Wang Yang Ma Kai
State Councilors	Yang Jing (also Secretary-General) Chang Wanquan Yang Jiechi Guo Shengkun Wang Yong
Ministers	Agriculture Han Changfu Civil Affairs Li Liguo→Huang Shuxian Commerce Gao Hucheng Construction Jiang Weixin→Chen Zhenggao Culture Cai Wu→Luo Shugang Defense Chang Wanquan Education Yuan Guiren→Chen Baosheng Finance Lou Jiwei→Xiao Jie Foreign Wang Yi Environment Zhou Shengxian→Chen Jining Human Resources Yin Weimin Industry and Information Miao Wei Justice Wu Aiying Public Security Guo Shengkun Resources Jiang Daming Science and Technology Wan Gang State Security Geng Huichang→Chen Wenqing Supervision Huang Shuxian Transport Yang Chuantang→Li Xiaopeng Water Chen Lei
Commissioners	Development Xu Shaoshi Ethnic Affairs Wang Zhengwei→Bagatur Health Li Bin
Other bodies	Auditor General Liu Jiayi Central Bank Governor Zhou Xiaochuan