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Jin Liqun, chairman of the supervisory board of China Investment Corp, China's sovereign wealth fund, will step down on Friday and assume the position of chairman of China International Capital Corp as early as May 20, a source told China Daily on Thursday. Prior to the appointment at CIC, Jin served as vice-president of the Asian Development Bank. Before joining the ADB in August 2003, he served as vice-minister of finance, director-general of the World Bank Department at the Ministry of Finance, and executive deputy director of China to the World Bank Group.
