Ding Xuedong

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Ding Xuedong
丁学东
Ding Xuedong.jpg
BornFebruary 1960 (1960-02) (age 64)
EducationPhD
Occupation State Council

Ding Xuedong (born February 1960) is a Chinese politician. He is the current Communist Party Secretary and Vice Chair of the National Council for Social Security Fund. Previously, he served as the Chairman & CEO of China Investment Corporation [1] and the Executive Deputy Secretary-General of the State Council (minister-level).

Contents

Education

Ding holds a Ph.D. in economics from the Research Institute for Fiscal Science, Ministry of Finance.

Career

In his earlier career, Mr. Ding served as Director General of the Department of Property Rights and Director General of the Department of Human Resources & Head of the General Office, State-owned Asset Administration Bureau. [2]

Subsequently, he held several positions in the Ministry of Finance, including Vice Minister, Assistant Minister, Director General of the Department of Education, Science and Culture, Director General of the Department of Agriculture and Director General of the Department of State-owned Capital Administration. Ding served as Deputy Secretary General of the State Council. [2]

In July 2013, Ding was appointed as China Investment Corporation's chairman by the Communist Party. [3] : 112  Ding oversaw a restructuring of CIC and an increased focus on internal discipline. [3] : 112–113  He required senior executives and over 400 CIC employees to submit self-criticisms in which they detailed their errors, apologized, and pledged not to repeat those errors. [3] : 112 

Under Ding's tenure, a CIC audit begun under predecessor Lou Jiwei was concluded. [3] : 113  The audit found that CIC's early losses were primarily due to dereliction of duty by key personnel, inadequate due diligence, inadequate post-investment management, and a general lack of professionalism. [3] : 113  Amid the nationwide anti-corruption campaign in 2015, CIC launched an internal investigation in which 495 personnel from CIC and its subsidiaries were disciplined. [3] : 113 

CIC's investment strategy changed during Ding's tenure, with an increased focus on the agricultural sector, including industries such as irrigation and animal feed, which other institutional investors have tended to overlook. [3] : 113  Other points of emphasis during Ding's time as CIC Chair included technology, real estate, and infrastructure investments. [3] : 113 

The Communist Party viewed Ding's tenure at CIC as a success and in February 2017 promoted Ding to secretary general of the State Council. [4] : 116 

Ding is also chairman of China International Capital Corporation, a leading Chinese investment bank in which China Investment Corporation indirectly holds over 40% interest. [5] [6]

Ding was a member of the 19th Central Committee of the Communist Party in 2017 [7] and the 20th Central Committee of the Communist Party in 2022. [8]

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References

  1. ↑ "Ding Xuedong - Forbes". Forbes. Retrieved March 16, 2015.
  2. 1 2 "China Vitae : Biography of Ding Xuedong". www.chinavitae.com. Retrieved June 25, 2023.
  3. 1 2 3 4 5 6 7 8 Liu, Zongyuan Zoe (2023). Sovereign Funds: How the Communist Party of China Finances its Global Ambitions. The Belknap Press of Harvard University Press. doi:10.2307/jj.2915805. ISBN   9780674271913. JSTOR   jj.2915805.
  4. ↑ Liu, Zongyuan Zoe (2023). Sovereign Funds: How the Communist Party of China Finances its Global Ambitions. The Belknap Press of Harvard University Press. doi:10.2307/jj.2915805. ISBN   9780674271913. JSTOR   jj.2915805.
  5. ↑ "CICC names CIC's Ding Xuedong as chairman". FinanceAsia. Retrieved February 6, 2016.
  6. ↑ "China Investment Corp. Boss Ding Has Friends in High Places". Institutional Investor. November 27, 2015. Retrieved June 25, 2023.
  7. ↑ "中国共产党第十九届中央委员会委员名单-新华网". www.xinhuanet.com. Retrieved December 12, 2022.
  8. ↑ "(CPC Congress) List of members of 20th CPC Central Committee-Xinhua". english.news.cn. Retrieved December 12, 2022.
Government offices
Preceded by Executive Deputy Secretary-General of the State Council
2018–2023		Succeeded by
Party political offices
Preceded by Communist Party Secretary of the National Council for Social Security Fund
2023–present		Incumbent


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