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China to announce personnel changes at banks-Post

HONG KONG: The South China Morning Post reported on Monday Beijing was expected to announce leadership changes at key state banks and its securities watchdog this week.

Citing unnamed sources, the newspaper said China Construction Bank president Zhou Xiaochuan will be chairman of the China Securities Regulatory Commission, whose incumbent chief Zhou Zhengqing, has reached retirement age.

Bank of China president Wang Xuebing will replace Zhou Xiaochuan, while Wang will be succeeded by Liu Mingkang, who will retain his position as chairman of China Everbright Holdings.

Zhou Xiaochuan's new assignment meant central bank chief Dai Xianglong, who is governor of the People's Bank of China, was likely to stay for the immediate future, the Post said.

Zhou Xiaochuan has been touted as a strong contender for Dai's position.

The changes will take effect on Tuesday and an announcement would be made later in the week, the newspaper said.-Reuters