China wants more say in how the U.S., the EU, Japan and the World Bank run the global financial system, says the new chief risk officer at China Investment Corp., China’s $200 billion sovereign wealth fund. “The era of the G-7 is over — the G-20 is a much better formula,” Jin Liqun , appointed by China’s cabinet in September, tells Institutional Investor . “Leaving China and other emerging markets out of the picture will now be impossible.” It’s up to the former vice president of the Asian Development Bank to oversee CIC’s investment activities and monitor the ethical conduct of its employees. Western leaders want China to contribute to the $250 billion needed to top up the International Monetary Fund. Jin, 59, says such an injection is under consideration, but that China must be welcomed into the power circle.
