BUSINESS

China Names Aerospace Veteran Party Chief of State-Assets Regulator

Published: Jul. 1, 2026 12:15 a.m. GMT+8

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Cheng Fubo

China appointed Cheng Fubo, chairman of Aviation Industry Corp. of China (AVIC), as Communist Party chief of the State-owned Assets Supervision and Administration Commission (SASAC) on Tuesday.

The move places a longtime aerospace and defense executive at the top of the agency that oversees China’s central state-owned enterprises, a core pillar of Beijing’s industrial and economic policy.

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Cheng Fubo appointed Communist Party chief of China's SASAC, overseeing central state-owned enterprises.
Former AVIC chairman, 55, has aerospace, defense, and provincial government experience.
He replaces Zhang Yuzhuo, who moved to the Chinese Academy of Engineering in late May.

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Who’s Who

Aviation Industry Corp. of China: Aviation Industry Corp. of China (AVIC) is a state-owned aerospace and defense conglomerate. It oversees subsidiaries like Chengdu Aircraft Industrial Group, which produces fighter jets such as the J-10 series. AVIC's former chairman, Cheng Fubo, was recently appointed party chief of SASAC.

China North Industries Group Corp.: China North Industries Group Corp. is a state-owned aerospace and defense conglomerate. Cheng Fubo previously served as its party head and chairman before being transferred to AVIC in July 2025.

Chengdu Aircraft Industrial Group: Chengdu Aircraft Industrial Group is a subsidiary of AVIC known for fighter-jet production. It was where Cheng Fubo spent 25 years, holding senior engineering and management roles. He became its chairman and party chief in 2013 and contributed to developing the J-10 fighter jet series.

Commercial Aircraft Corp. of China: Commercial Aircraft Corp. of China (COMAC) is a state-owned aerospace manufacturer. According to the article, Cheng Fubo served as its vice general manager in 2018 before entering local government. COMAC develops commercial aircraft like the C919.

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