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China’s State Asset Overseer Appoints New Director

By Isabelle Li / May 22, 2019 01:01 PM / Politics & Law

Hao Peng. Photo: SASAC

Hao Peng. Photo: SASAC

China’s most powerful state asset regulator has appointed Hao Peng, its current party chief, as its new director.

Hao’s predecessor at the State Council’s State-owned Assets Supervision and Administration Commission (SASAC) was Xiao Yaqing, who became China’s top market regulator on Friday.

As SASAC’s new director, Hao will retain his party leader post, the central government announced Tuesday.

Like Xiao, Hao is currently a member of the elite Central Committee of the Communist Party of China.

People’s Tribune, a major party-led magazine, published a commentary by Hao on Friday emphasizing the importance of party leadership in state-owned enterprise reforms.

Related: State Asset Chief Named China’s Top Market Regulator

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