Lou Jiwei

In this Chinese name, the family name is Lou.
Lou Jiwei
楼继伟
Lou Jiwei in 2016
12th Minister of Finance
In office
16 March 2013 – 7 November 2016
PremierLi Keqiang
Preceded byXie Xuren
Succeeded byXiao Jie
Personal details
BornDecember 1950 (age 73)
Yiwu, Zhejiang
Political partyChinese Communist Party
Alma mater
OccupationPolitician

Lou Jiwei (simplified Chinese: 楼继伟; traditional Chinese: 樓繼偉; pinyin: Lóu Jìwěi; born December 1950), is a Chinese politician, and current director of the 13th CPPCC Foreign Affairs Committee.[1] Lou was Chairman of China's National Council for Social Security Fund, Minister for Finance, Chairman of China Investment Corporation and Central Huijin Investment, Vice Minister of Finance of China and Vice-Governor of Guizhou.

Biography[edit]

Lou Jiwei was born in December 1950, is from Yiwu, Zhejiang, and holds a master's degree in economics. He started working in February 1968, joined the Chinese Communist Party in January 1973, and graduated from the Institute of Quantitative and Technological Economics of the Chinese Academy of Social Sciences with a major in economic system analysis in December 1984.[2] He is considered outspoken.[3]

In 2013, President Xi Jinping called for the creation of state-owned investment companies to invest in key industries such as civil aviation, energy, mineral resources, nuclear power, and logistics.[4]: 15  As Finance Minister, and with prior sovereign fund experience as the chair of China Investment Corporation and its former CEO, Lou was tasked with developing this proposal and served as lead author for the State Council's "Opinions on Reforming and Improving the State-Owned Assets Management System."[4]: 15 

Timeline of positions[edit]

Lou is a member of the 16th Central Commission for Discipline Inspection, alternate member of the 17th Central Committee of the Chinese Communist Party, member of the 18th Central Committee of the Chinese Communist Party, representative of the 19th National Congress of the Chinese Communist Party, and standing member of the 13th CPPCC National Committee.

Comments on 2021 economic data[edit]

On 11 December 2021, at a forum held by the China Centre for International Economic Exchanges in Beijing, Lou criticized the main economic indicators as insufficiently reflecting major economic problems, implying that recently released official warnings about economic pressures facing the country could not be explained by the indicators. In further support of his point, he mentioned his belief that among the 150 million economic entities registered as of 1 November – an increase by a half compared to a decade earlier – , at least 40 million were not active.[3]

Awards[edit]

In 2008, Time magazine considered Lou to be one of the 100 most influential people in the world.[6] Forbes Magazine considered him to be the 30th most powerful person in the world, according to their "Powerful People 2010" list.[7] In 2011 he was included in the 50 Most Influential ranking of Bloomberg Markets magazine. Lou was listed as twelfth on aiCIO's 2012 list of the 100 most influential institutional investors worldwide.[8]

References[edit]

  1. ^ a b 中国人民政治协商会议第十三届全国委员会各专门委员会主任、副主任名单. www.cppcc.gov.cn.
  2. ^ 楼继伟. www.gov.cn.
  3. ^ a b Wang, Orange (12 December 2021). "Show us the numbers on China's economic risks, former finance minister says". South China Morning Post. Retrieved 30 January 2022.
  4. ^ a b c Liu, Zongyuan Zoe (2023). Sovereign Funds: How the Communist Party of China Finances its Global Ambitions. The Belknap Press of Harvard University Press. ISBN 9780674271913.
  5. ^ 国务院关于成立经济体制改革方案研究领导小组的通知（国发〔1986〕37号）_政府信息公开专栏. www.gov.cn.
  6. ^ Time.com: The 2008 TIME 100 Accessed May 8, 2008
  7. ^ "Lou Jiwei". Forbes.
  8. ^ "Power 100". Archived from the original on 2013-11-05. Retrieved 2013-07-19.
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