China is struggling to find a new head for its $500bn sovereign wealth fund after two top candidates declined the job out of fear it would prove a poisoned chalice, people with knowledge of the matter said.
China Investment Corporation has been without a chairman since March when its former head Lou Jiwei became finance minister. The search for a replacement appears set to continue as the latest nominee, Shanghai vice-mayor Tu Guangshao, is very reluctant to take the job, the people said. They added that Yi Gang, a central bank deputy governor, had already declined the post.
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