Silk Road Fund gets up and running with key team in place

China's $40 billion Silk Road Fund is moving forward steadily as its management team has taken shape.

Wang Yanzhi, an official with the country's foreign exchange regulator, has been named the general manager of the fund, according to a report by the Chinese business magazine Caixin.

Wang, known for his experience in managing the country's foreign exchange reserves, is currently the director of the entrusted loan office at the State Administration of Foreign Exchange.