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Li Chao named as CSRC vice-chairman

The State Council has appointed Li Chao, deputy director of the State Administration of Foreign Exchange, to replace Zhuang Xinyi as vice-chairman of the China Securities Regulatory Commission, according to a statement published on the official website of the Ministry of Human Resources and Social Securities on Tuesday. Li was deputy director of SAFE since December 2008. Zhuang Xinyi has reached the age of retirement, media reported.