New finance minister Lou Jiwei is no stranger to China's tax system.
He was deputy finance minister from 1998 to 2007 and his early research into the economy, fiscal policies and financial markets revealed deep insight into these areas.
The 63 year old graduated with a master's degree in economics from the China Academy of Social Sciences in 1984 and joined a research facility under the State Council, China's cabinet, the same year.
He was the governor of Guizhou Province and the deputy secretary general of the State Council before being appointed chairman and CEO of the country's sovereign wealth fund, China International Corp., in September 2007. He stayed in the position until being named the finance minister on March 16.
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