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Business/Finance See other Business/Finance Articles Title: Jin Liqun favorite to be named AIIB's first chief Want... Jin Liqun, the man Beijing hand-picked to set up the ambitious Asian Infrastructure Investment Bank (AIIB), is the hot favorite to become the bank's inaugural chief. As at the March 31 deadline, 46 nations and regions in and out of Asia have applied to be founding members of the China-led AIIB, which intends to provide finance to infrastructure projects in the Asia region. China's Ministry of Finance has already declared that the bank's headquarters will be situated in Beijing's financial district, and it is widely expected that Jin, currently the secretary-general of the AIIB's Multilateral Interim Secretariat, will be at the helm when the bank begins operation around the end of the year. Born in 1949 in east China's Zhejiang province, Jin holds a master's degree from Beijing Foreign Studies University and was a Hubert Humphrey Fellow in the Economics Graduate Program at Boston University. With his strong English abilities, Jin took on the job of translating five chapters of the Nobel prize-winning Tree of Man by Australia's Patrick White into Mandarin during the late 1970s. But by the time his publisher called looking for the remainder of the translation, Jin was already in Washington learning about global finance as China's executive director at the US-dominated World Bank. Recognized as a top economist, Jin has also served as director-general of the World Bank Department at China's Ministry of Finance and a vice minister of finance. He joined the Asian Development Bank in August 2003 as vice president of operations, staying on until 2008. In the five years after that he served as the chairman of the board of supervisors of Central Huijin Investment and its sovereign wealth fund parent, China Investment Corporation, where he played a central role in the development of the International Forum of Sovereign Wealth Funds. In May 2013, he was named chairman of China International Capital Corporation Limited, the country's first Sino-foreign joint-venture investment bank formed by Morgan Stanley and state-owned China Construction Bank, though he left the position in October when he was appointed the AIIB's interim secretary general. Sources with knowledge of Jin's thinking on the future management of the AIIB say he may have plans that run contrary to conventional Western thinking. He is said to want the AIIB to have a non-resident board of directors which would be less day-to-day and hands-on than the World Bank board. He also reportedly believes management should run the bank and stand or fall on performance, accountable to government shareholders. Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: Tatarewicz (#0)
Good man, if you fail, you die. He'll do quite well. “The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
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