China appoints Cheng Fubo as new Communist Party chief of SASAC

In a major political shift today, the Chinese government has announced the appointment of Cheng Fubo as the new Communist Party chief of its state-owned asset regulator.

Cheng Fubo takes over the role following the recent removal of Zhang Yuzhuo, who was relieved of his duties as chairman of the State-owned Assets Supervision and Administration Commission in early June.

The announcement was made on Tuesday in an official statement released by the regulator that informed that

Zhang has transitioned to his new role as the party chief of the Chinese Academy of Engineering.

About Cheng Fubo-Chinese Communist Party Chief:

Cheng Fubo is a representative of the 20th National Congress of the Chinese Communist Party.

He is a Chinese executive and politician, currently serving as chairman of the China North Industries Group Corporation Limited.

Cheng got involved in politics in June 2000, when he was named vice governor of Shaanxi. Prior to that, he served as Chairman of the Aviation Industry Corporation of China.

In December 2021, he was admitted to member of the CCP Shaanxi Provincial Committee, the province's top authority.

In January 2022, he became head of the Organization Department of the CCP Shaanxi Provincial Committee, but having held the position for only eleven months.

Following the same year in December, Cheng assigned to the similar position in the coastal province Guangdong.

On 30 April 2024, Cheng was made chairman of the China North Industries Group Corporation Limited, while now he has been appointed as the Communist Party Chief of the State-owned Assets Supervision and Administration Commission (SASAC).