Trio of Major Chinese State Firms Swap Leaders

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What’s new: A trio of major Chinese state-owned enterprises have swapped leaders, as part of a broader management reshuffle in the state sector, the government agency responsible for overseeing them announced.

Bai Zhongquan has been appointed the Communist Party chief and chairman of China National Pharmaceutical Group Co. Ltd., replacing Liu Jingzhen, according to a statement published Friday by the State-owned Assets Supervision and Administration Commission (SASAC).

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Major leadership changes occurred in prominent Chinese state-owned enterprises including China National Pharmaceutical Group, China Logistics Group, and China Electrical Equipment Group.
The reshuffle is part of China's three-year campaign to deepen reforms in SOEs, running through 2025.
The SASAC statement also announced leadership changes at nine other state-owned enterprises.

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Who’s Who

China National Pharmaceutical Group Co. Ltd.: China National Pharmaceutical Group Co. Ltd., also known as Sinopharm, is a major state-owned enterprise in China. Bai Zhongquan has been appointed as the new Communist Party chief and chairman, replacing Liu Jingzhen. This change is part of a broader management reshuffle aimed at deepening reforms and increasing innovation in state-owned enterprises.

China Logistics Group Co. Ltd.: China Logistics Group Co. Ltd. recently appointed Liu Jingzhen as its new Communist Party chief and chairman, replacing Li Hongfeng. This leadership change is part of a broader management reshuffle among Chinese state-owned enterprises aimed at boosting innovation and control over strategic emerging industrial chains. The reshuffle is a part of China's three-year campaign to reform SOEs, running through 2025.

China Electrical Equipment Group Co. Ltd.: China Electrical Equipment Group Co. Ltd. has seen a leadership change as part of a broader reshuffle among Chinese state-owned enterprises. Li Hongfeng has been appointed as the new Communist Party chief and chairman, replacing Bai Zhongquan, who moved to lead China National Pharmaceutical Group Co. Ltd. This reshuffle is part of China's three-year campaign to reform state-owned enterprises and boost innovation.

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What Happened When

Earlier this year, 2024：: The State-owned Assets Supervision and Administration Commission (SASAC) urged state-owned enterprises to increase their control and influence over strategic emerging industrial chains.

2024-06-14：: The State-owned Assets Supervision and Administration Commission (SASAC) announced a leadership reshuffle at major Chinese state-owned enterprises, including the appointment of Bai Zhongquan as the Communist Party chief and chairman of China National Pharmaceutical Group Co. Ltd., replacing Liu Jingzhen.

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