Background Information
Born in 1960 in Changzhou City, Jiangsu Province, China, Ding Xuedong is the chairman of China Investment Corporation (CIC) and China International Capital Corporation (CICC), both significant financial entities. Forbes magazine has ranked Ding Xuedong as the 43rd most powerful person globally. His ancestry is Han Chinese.
Estimating Ding Xuedong’s net worth is challenging due to the secrecy surrounding the wealth of senior Chinese public officials. However, it is believed to be in the range of $30-40 million, alongside mammoth funds amounting to about $700 billion in the two funds he oversees.
Ding Xuedong’s Estimated Net Worth: $35 Million
Ding Xuedong, whose personal life remains private, began his career in 1977 and later joined the CPC in 1984. He pursued his education in finance, obtaining a Master’s degree from the School of Financial Science Institute of the Ministry of Finance, followed by a PhD in economics from the Research Institute for Fiscal Science under the same ministry.
In the 1990s, Ding Xuedong served in various capacities within government departments, eventually becoming Vice Minister of the Ministry of Finance in March 2008. He later held roles such as Director of the Property, General Office, and Education Departments in the State-Owned Assets Supervision and Administration Commission.
From 2010 to 2013, Ding served as the youngest Deputy Secretary-General on the State Council and subsequently a brief stint as Deputy Director of the National Committee for Disaster Reduction before assuming his current positions.
Aside from his chairmanship at CIC and CICC, Ding Xuedong has been involved with the State Council Leading Group for Poverty Alleviation and Development.
Leading China’s largest sovereign wealth funds with $652.7 billion in assets, Ding Xuedong expanded his responsibilities by taking over as chair of China International Capital Corp. after the resignations of its former chair and CEO. This shift in focus involves a strategic move towards investing in agriculture and global food supplies, aligning with the priorities of China’s leadership.
Notably, China’s sovereign wealth fund, managed by Ding Xuedong, is transitioning its investment focus from US financial institutions to other sectors and countries, reflecting the shifting priorities of China’s leadership.
The CIC’s management and board report to the State Council of the PRC, indicating strong connections within the political establishment, particularly with the Ministry of Finance.
Personal details about Ding Xuedong’s personal life remain undisclosed.