Lou Ji Wei was born in December 1950 and is currently Chinese Minister of Finance. Lou was Chairman and CEO of China Investment Corporation and formerly served as China’s Vice Minister of Finance and as Vice-Governor of Gui Zhou.
Lou is a native of Yi Wu, Zhe Jiang province. He joined the Communist Party of China in 1973, studied in the computer sciences faculty of Tsing Hua University in 1978, and did postgraduate work with the econometrics faculty of the Postgraduate School of the Chinese Academy of Social Sciences in 1982.
After post graduate studies Lou worked as the deputy head of the financial and banking office group of the general office of the State Council. During the mid-1980s Lou went to work as the director of the Institute of Finance and Trade of the Chinese Academy of Social Sciences. In 1995 Lou became the vice-governor of Gui Zhou Province and shortly thereafter became the vice-minister of finance. In 1999 he became a member of the academic affairs committee of the State Council. As a protégé of Premier Zhu Rong Ji, Lou played a pivotal role in overhauling the tax system of the People’s Republic of China as well as managing its internal investments. In 2007, he served briefly as deputy secretary general of the State Council and became an alternate member of the 17th CPC Central Committee.
China’s US$2.1 trillion in foreign exchange reserves is the largest of such reservoir in history. The sovereign wealth fund that Lou heads, China Investment Corporation, helps to invest a portion of that under his guidance. At the first plenary session of the 12th National People’s Congress in March 2013, Lou Ji Wei was elected as Minister for Finance, succeeding Xie Xuren.