China Investment Corporation (CIC) has appointed Li Xiaopeng as head of its supervisory board, replacing Jin Liqun.
Xiaopeng was earlier worked at Industrial & Commercial Bank of China Ltd’s (ICBC’s) as vice president.
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The bank’s supervisory board is responsible for monitoring the behavior of the fund’s directors and executives.
"CIC highly commends the excellent leadership and service of Jin Liqun during his five-year tenure as Chairman of Board of Supervisors, and his efforts in promoting international engagement between CIC and various stakeholders," the bank said in a statement.
CIC is still looking for replacement of its former chairman, Lou Jiwei, who left the fund in March 2013 to become China’s current finance minister.
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