February 14, 2014 / 7:12 AM / 4 years ago

China CIC appoints Li Keping as vice chairman and president

BEIJING, Feb 14 (Reuters) - China’s sovereign fund, China Investment Corp (CIC), confirmed on Friday it has appointed Li Keping as vice chairman and president to replace Gao Xiqing who is due to retire.

Reuters had reported last month that Li would take up the post.

Li has been serving as CIC’s chief investment officer. Before joining CIC he was deputy chairman of China’s largest pension fund. Li holds an economics degree from China’s prestigious Peking University.

Created in 2007, CIC is tasked with helping China invest its current $3.8 trillion in foreign exchange reserves. (Reporting By Koh Gui Qing and Xiaoyi Shao)

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