Biz scene: MOVIES

SERC gets new chairman

You Quan, deputy secretary-general of the State Council, was recently appointed chairman of the State Electricity Regulatory Commission, replacing retiring chairman Chai Songyue.

You has been involved in researching and drafting major economic policies since he was appointed deputy secretary-general of the State Council in 2001. He is a member of the central bank's monetary policy committee and also deputy head of the country's leading team on reform of the electricity, telecommunication and aviation sectors.

The new chairman's main task in 2007 is to solve problems caused by the separation of power plants from grid companies and to further separate non-core business from the grid companies, market insiders said.

Citigroup appointment

Citigroup Corporate & Investment Banking Asia Pacific has appointed Zhang Wendong as managing director of its China Investment Banking team.

Zhang began his investment banking career at Morgan Stanley in 1991, working in Hong Kong, China and New York for nine years. He has held a number of senior management positions in China and Hong Kong.

(China Daily 01/10/2007 page15)