Bao Jianmin, a CIC veteran with experience in private equity, international investment and real asset investments, is now listed as part of the management team at Citic, where he serves as deputy general manager and a member of the Communist Party committee.
The profile of the 57-year-old on Citic’s website shows that Bao held multiple roles at CIC. He is still listed as a member of the executive committee and a director of the private-equity investment department at CIC, suggesting the move could be very recent. Personnel reshuffling among state-owned enterprises is a common practice.
According to the limited public information about Bao, he has played a role in CIC’s international expansion efforts. He attended an international investment conference held by CIC last September in Xiamen, according to the company website.
In April 2023, he joined a meeting between then CIC president Peng Chun and Lim Chow Kiat, the CEO of Singapore sovereign fund GIC Private, to discuss the Chinese market, investment opportunities and collaboration among peer institutions.
In March 2023, he joined a meeting between Peng and Stephen Schwarzman, founder and chairman of Blackstone Group, to discuss cooperation amid complex and challenging market conditions.
Bao was assigned to lead a team within CIC’s direct-investment unit in 2020 to address troubled investments, according to a Bloomberg report. His role focused on recovering value and exploring potential exits from underperforming assets, primarily in the energy and mining sectors, which had experienced prolonged losses, the report said.
