Beijing-headquartered Chinese sovereign wealth fund China Investment Corp. is to name executive vice president Li Keping as its next president, replacing long-term vice chairman and president Gao Xiqing, according to media reports.
Gao is to retire as he has reached China’s mandatory retirement age of 60.
Li Keping is currently executive vice president and chief investment officer of CIC. Previously, he served as deputy chairman of the National Council for the Social Security Fund.
He also worked as head of investment department of the National Council for the Social Security Fund, deputy director general of the Macroeconomic Control Department of the State Council Office for Restructuring the Economic Systems.
Li was born in 1956 and holds a bachelor’s degree in economics from Peking University.
In July 2013, Ding Xuedong was named CIC’s chairman and chief executive officer, replacing Lou Jiwei, who left to become China’s minister of finance.