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Lou Jiwei - the man that is going to save Italy

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Lou JiweiLou Jiwei, born December 1950 in Beijing, is a Chinese politician and financial figure. Lou is Chairman and CEO of China Investment Corporation and formerly served as China's Vice Minister of Finance and as Vice-Governor of Guizhou.


Lou is a native of Beijing. He was born in 1950, joined the Communist Party of China in 1973, studied in the computer sciences faculty of Qinghua University in 1978, and did postgraduate work with the econometrics faculty of the Postgraduate School of the Chinese Academy of Social Sciences in 1982.


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.


As a protege 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.


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


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


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


U.S. markets were rocked by fresh fears of a Greek default Monday morning, but with the session winding to a close potential support for another European trouble spot helped the major averages reverse losses and turn positive.


The Financial Times reported that Italy’s finance minister Giulio Tremonti met last week with Lou Jiwei, the chairman of China Investment Corp, in the second such meeting between Italian officials and the sovereign wealth fund in recent weeks.


http://www.forbes.com/sites/steveschaefer/2011/09/12/stocks-erase-losses-after-report-says-italy-seeks-chinese-aid/


http://www.ft.com/intl/cms/s/0/90c4c7f6-dd54-11e0-9dac-00144feabdc0.html#axzz1Xj66l6iy

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