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Joins the CVCA Board as a Governor Dear CVCA members and friends, In November 2010, China Venture Capital and Private Equity Association ("CVCA") had the annual Board Governor election according to its statute. TIAN Suning, the Chairman of CBC Capital, retired from the board. The CVCA Board has unanimously approved the appointment of Lefei LIU, the Chairman and CEO of CITIC Private Equity Funds, as a new governor of the board. This action has been taken in full accordance with the statute of CVCA. Mr. Liu will bring a host of fresh ideas and renewed vitality to the association, serving together with existing governors to plan CVCA's future development strategy and attract more resources in the future. Appendix: Mr. Lefei Liu's bio  CITIC Private Equity Funds Management Co., Ltd Chairman and CEO Mr. Lefei Liu is Chairman and CEO of CITIC Private Equity Funds Management Co., Ltd. He is also Director of CITIC Securities Co., Ltd. Previously Mr Liu worked as Chief Investment Officer and General Manager of the Investment Management Department of China Life Insurance Ltd. He also served as General Manager of Investment Management Department of China Galaxy Securities Company Limited and Executive Director of Capital Securities. During his service at China Life, Mr. Liu was responsible for the assets and liabilities matching/management, strategic allocation and investment management for assets totaling over thousands of billions of RMB in value. He successfully led the equity investments in many milestone projects, including China Southern Power Grid, Guangdong Development Bank, CITIC Securities, Visa, China Mingsheng Bank, China Union Pay, Qinhuangdao Port Group. These projects have not only earned remarkable investment returns, but also exerted substantial influence on the market and helped create the leading market position for China Life. In addition to his extensive experience in direct investments, Mr. Liu has also accumulated a wealth of experience in asset allocation, strategic development, risk control, etc. He led the development of a wide range of assets models, indices and financial products, achieving long-term and stable returns while keeping tight control on the risks. Mr. Liu holds an MSc. in Economics from the Chinese Academy of Social Sciences, an MBA from China Europe International Business School and a BSc. in Economics from Renmin University of China. |
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About China Venture Capital and Private Equity Association ("CVCA") The China Venture Capital and Private Equity Association ("CVCA"), incorporated in the middle of 2002, is a member-based trade organization established to promote the interest and the development of the venture capital ("VC") and private equity ("PE") industry in the Greater China Region. Currently CVCA has more than 150 member firms, which collectively manage over US$500 billion in venture capital and private equity funds. CVCA's member firms have long and rich experience in PE and VC investing worldwide and have made many successful investments in a variety of industries in China, including information technology, telecommunications, business services, media and entertainment, biotechnology, consumer products, general manufacturing and more. Formerly known as China Venture Capital Association (CVCA), the association was renamed China Venture Capital and Private Equity Association in December 2010. |