Ding Xuedong, chairman and chief executive of the US$810 billion-under-management sovereign wealth fund China Investment Corp (CIC), has stepped down, according to Chinese media reports citing insiders. No explanation was disclosed on why he had resigned and who will take his position at the Chinese state wealth manager. Ding, born in 1960, said last month at the Asian Financial Forum in Hong Kong that the sovereign wealth fund manager plans to invest in infrastructure projects in the U.S. as U.S. President Trump calls for a fiscal expansion package to stimulate the world's largest economy. The Jiangsu province...