Beijing names financier Qi Bin as deputy director of Hong Kong liaison office
Qi Bin, vice-president of China’s sovereign wealth fund, will serve as a deputy at the central government’s liaison office
The State Council made the announcement on Wednesday in a move analysts said was timely in addressing possible sanctions by United States President-elect Donald Trump as Qi’s expertise would help to enhance Hong Kong’s status as an international financial centre.
Qi, 57, was vice-president and deputy chief investment officer with the China Investment Corporation (CIC), one of the world’s biggest sovereign wealth funds with more than US$1.3 trillion worth of assets under management.
A source earlier said Qi was expected to take charge of economic affairs at the liaison office, playing a vital role in coordinating economic and financial policies between mainland China and Hong Kong.
Qi, who holds a doctorate in econometrics from Tsinghua University in Beijing, worked with major Wall Street firms including Goldman Sachs from 1996 to 2000 before joining the China Securities Regulatory Commission. He served 16 years at the watchdog.
In 2016, he joined CIC as executive vice-president, taking charge of strategic planning and investment operation at the sovereign wealth fund.
During his time there, he helped to lead some important market opening measures, including the “Shanghai-Hong Kong” and “Shenzhen-Hong Kong” stock connect programmes aimed at integrating mainland equities markets with the city’s exchange.
