Sinosteel appoints new president to drive growth

BEIJING - Sinosteel Group, China's largest iron ore trader, has announced the appointment of Jia Baojun as its president to replace the outgoing Huang Tianwen, according to the company's website on Monday.

The appointment was announced by the State-owned Assets Supervision and Administration Commission (SASAC), which is both a regulator of, and shareholder in China's largest State-owned companies, without offering any reason.

Prior to the appointment, Jia, 53, was the president of Sinosteel Corporation Limited, a Sinosteel subsidiary, from 2010. Before joining Sinosteel Group, he was the vice-president of Wuhan Iron & Steel Group, China's third largest steelmaker.