Sources: CSRC chief to take sovereign fund role

China's chief securities regulator Guo Shuqing could take the reins of China's US$482 billion sovereign wealth fund, China Investment Corporation, Reuters reported, citing two unnamed sources. That would place Guo in charge of a planned US$560 billion spending spree of overseas assets through 2015. Guo's international background makes him a force for smarter and more balanced dealmaking abroad and indicates a new approach to China's global buy-up strategy. Gao Hucheng, China's chief trade representative and expert negotiator, is said to be in line for the top spot at the Ministry of Commerce.