New China investment chief to be named

China is set to name a new head of the investment arm of the central bank, as it prepares to open a new agency to help manage the country's foreign currency reserves of more than $1 trillion, Reuters reported from Shanghai on Monday 26 February.

Financial sources close to the State Council, China's cabinet, said on Monday that Vice Finance Minister Lou Jiwei was likely to replace Hu Xiaolian as chairman of Central SAFE Investment, also known as Central Huijin.

Hu would remain in charge of the

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