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Business / Economy

AIIB's president candidate, scholarly economist

(Xinhua) Updated: 2015-07-07 16:48

After graduating from BFSU, Jin worked for the Ministry of Finance before reading economics at George Washington University and Boston University.

During his time in the US, he was impressed by the nation's passion for reading.

"Almost every passenger on the way was reading a book or newspaper," Jin recalled, noting that a country whose people love reading would make continuous progress both in soft and hard power.

"Reading needs us to arrange our time reasonably," Jin said.

The "scholar official" has published several books. He led the translation work of "The House of Morgan" and wrote "Economic Development: Theories and Practices" in collaboration with Nicholas Stern, then chief economist of the European Bank.

Financial diplomat,shining resume

Skimming through Jin Liqun's resume, it can be seen that he has been close to the opening up of China's financial affairs.

He was once appointed deputy director general of the external finance department at the Ministry of Finance (MOF); the alternative executive director for China at the World Bank; director general of the World Bank department of MOF; and assistant minister progressing to vice minister of MOF.

As one of the first government officials to be involved in international financial affairs since the reform and opening-up of China in 1978, Jin Liqun has actively participated in multilateral cooperation on the global stage.

Jin was responsible for the release of Chinese sovereign bonds, which cost $1 billion, in 1998. It showcased his persuasive ability, as it was the first sovereign bond issuance in Asia that relied on its own credibility following the Asian financial crisis in 1997.

The MOF vice minister stood out and became the first ADB Chinese vice president in August 2003. He was in charge of the South Asian and Mekong Delta Sector, and granting loans to private departments.

Greater Mekong Subregion (GMS) Economic Cooperation saw great progress during his term of office. He believed that subregional cooperation was an integral part of regional and international cooperation. Building up tighter subregional ties would be a determining factor for more comprehensive international cooperation due to globalization.

He became chairman of the board of supervisors of China Investment Corp afterward, working with Lou Jiwei, the current MOF Minister. The two played a significant role in running the Sovereign Wealth Fund of the world's second largest economy with the largest foreign exchange reserve.

He then became chairman of China International Capital Corp Ltd (CICC) in 2013, entering investment banking and securities.

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