Ding Xuedong Named Deputy Chairman of $360 Billion Social Security Fund Manager

China’s State Council named Ding Xuedong Tuesday to be deputy chairman of the National Council for Social Security Fund (NCSSF). He was appointed Saturday as Communist Party chief of the council, which manages the country’s 2.6 trillion yuan ($360 billion) social security fund.

Ding, 63, fills a vacancy left by former party chief and Deputy Chairman Wang Ercheng, who was transferred in November 2020 to the National Committee of the Chinese People’s Political Consultative Conference, a political advisory body. The council’s leadership is made up of Chairman Liu Wei and three other deputy chairmen.