More changes have swept the Chinese financial community, with some of its leading faces being renewed. According to the official website of the Chinese Central Government, the State Council has promoted Zhang Hongli, the former assistant to the Minister of Finance, to the post of Vice Minister of Finance and Yang Mingsheng, the former manager of the Agricultural Bank of China, to the post of Vice Chairman of the China Insurance Regulatory Commission (CIRC). Meanwhile, the State Council has dismissed Xiang Junbo from his position of Deputy Governor of the People's Bank of China and Tang Shuangning from being Vice Chairman of CIRC.

All together, central authorities announced a reshuffle of 14 senior officials on its website yesterday, with the financial community being especially targeted. In fact, the restructuring and listing of the Agricultural Bank of China and China Everbright Bank caused the job changes for three major players in the Chinese financial community, Xiang Junbo, Tang Shuangning and Yang Mingsheng.

For more details, please read the full story in Chinese (http://www.dfdaily.com/node2/node10/userobject1ai14056.shtml)

(China.org.cn July 6, 2007)