New head of market regulator appointed

The State Council, or China's Cabinet, appointed Xiao Yaqing, the nation's former top State assets regulator, as the minister of the State Administration of Market Regulation, the Ministry of Human Resources and Social Security announced on Tuesday.

The reshuffle of senior officials came after Zhang Mao, the former head of the State Administration of Market Regulation, reached the mandatory retirement age of 65. Hao Peng, current Party secretary of the State-Owned Assets Supervision and Administration Commission, will take full charge of the SASAC.

Xiao was general manager of State-owned Aluminum Corporation of China Ltd before becoming deputy secretary-general of the State Council in 2009. He was appointed chairman of the SASAC in 2016, tasked with deepening reform of the nation's SOEs.