China is planning to appoint new heads to some key economic and financial regulatory bodies ahead of a twice-a-decade leadership reshuffle by the Chinese Communist Party (CCP), the Wall Street Journal reported, citing unidentified people familiar with the matter.
Guo Shuqing (郭樹清), the governor of Shandong Province and a financial sector expert, is the top candidate to become the new head of China’s banking regulator to replace China Banking Regulatory Commission Chairman Shang Fulin (尚福林), who has reached the retirement age for senior government officials of 65, the Journal reported.
Chinese National Development and Reform Commission Deputy Director He Lifeng (何立峰) is slated to replace the commission’s chairman Xu Shaoshi (徐紹史) when he retires, the report said.
Chinese Minister of Commerce Gao Hucheng (高虎城) is also set to step down, with his deputy, Zhong Shan (鍾山), who is also China’s top trade representative, tipped to succeed him, according to the Journal.
Separately, the vice chairman of state-owned People’s Insurance Company (Group) of China (中國人民保險集團) is being investigated for alleged discipline violations, the CCP’s anti-corruption watchdog said yesterday.
Wang Yincheng (王銀成) is the latest senior official of a state-owned enterprise to be enmeshed in Chinese President Xi Jinping’s (習近平) sweeping campaign against corruption, which has already caught up bankers and telecoms employees, among others.
Additional reporting by Reuters
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