Zhang Yi has been appointed as the new chief of the State-owned Assets Supervision and Administration Commission (SASAC), Shanghai Securities News reported Wednesday, citing a statement from the state assets regulator. He replaces Jiang Jiemin who stepped down in September amid an investigation into suspected economic crimes. Zhang, 63, is secretary of the SASAC committee of the Communist Party of China. He was appointed deputy head of SASAC in March 2013.
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