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Biz people of August

By Hu Yang and Zhao Tingting (chinadaily.com.cn)
Updated: 2010-09-01 16:39

Wang Yong succeeds Li Rongrong to head SASAC

Li Rongrong	Wang Yong

Li Rongrong, who stepped down as head of China's State-owned assets watchdog, was succeeded by Wang Yong, former head of the General Administration of Quality Supervision, Inspection and Quarantine.

Li, 66, has been director and Party chief of the State-owned Assets Supervision and Administration Commission (SASAC) since it was established in 2003. He pushed the restructure of centrally-administered State-owned enterprises (SOEs), reducing the number from 196 to 123.

Li's successor, the 55-year-old Wang, is expected to take over his unfinished work. Wang had previously served as the deputy chief of the SASAC and gained extensive experience in running an SOE while working as a senior executive of China Aerospace Science and Technology Corporation.

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