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Liu Chang, the 33-year-old daughter of Liu Yonghao, ex-chairman of the New Hope Group, a leading agribusiness operator in China, has succeeded her father to be the new chairman of the company, according to the announcement by New Hope on Wednesday.
At the age of 16 in 1996, Liu Chang went to the United States to study and got her MBA. She started working for New Hope in 2002, rising from positions in administration and marketing to deputy general manager and board member.
"I feel a strong sense of responsibility because I have a deep attachment to New Hope. I will try my best to fulfill my job and will not let the shareholders down," said Liu Chang.
Liu Yonghao remains a board member.
In 2012, New Hope recorded 73.2 billion yuan ($11.8 billion) in operating revenue, up 2.23 percent from the same period the previous year. The net profit for shareholders of the listed company was 1.7 billion yuan, down 35.4 percent year on year.