China Energy Investment, the largest coal-production company in the world, appointed a new head on Monday.
The 56-year-old Wang Xiangxi has replaced 63-year-old Qiao Baoping, whose age hit the ceiling for holding a top position in an enterprise directly managed by Beijing.
Wang will also serve as the secretary for China Energy Investment’s leading party member’s group – the company’s internal Party organization that supervises major decisions.
Wang has worked in the coal industry for 17 years. He was also head of the commission of political and legal affairs of the Party in Hubei province, the Party organ that oversees the region’s legal system.
China Energy Investment’s total assets were valued at 1.83 trillion yuan ($273.01 billion) as of September 2018.Related: Coal Producers Post Third Year of Profit Growth