Head of CIC's Central Huijin unit quits

Central Huijin is primarily responsible for investments in the country's major state-owned banks. According to an announcement, Xie has also left his position as executive vice president of CIC.

Caixin reported that Xie submitted his resignation in February. He is expected to take up a teaching position with a university and help launch an equity investment fund associated with the government's Belt and Road initiative. This refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative proposed by China in 2013, with a view to building roads, railways, ports and airports across Asia, Europe and Africa.

Xuedong Ding, chairman and CEO of CIC, in a separate statement commended Xie's contribution to CIC, including pushing forward Central Huijin's reform and development, enhancing equity management efforts, and improving corporate governance of the institutions invested and held directly by Central Huijin.

Xie took over from Chun Peng as Huijin's president in June 2014. Prior to that, he was an executive director and deputy general manager of conglomerate China Everbright Group.

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• Topics
• Greater China
• People
• China
• CIC
• Appointments
• Sovereign wealth fund