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On 28 September 2019, former Everbright Bank Governor Ge Haijiao (葛海蛟) was appointed Hebei Vice Governor. Ge spent a major portion of his career in Agricultural Bank of China (ABC), and was only confirmed as Everbright Bank Governor by CBIRC in January 2019. Hebei has been lacking a vice governor since former vice governor Li Qian (李谦) was ousted in August 2019.

On 26 September 2019, former Sichuan Development Holding Company Chairman Wang Fengchao (王凤朝) was appointed Sichuan Vice Governor, filling the vacancy left by ousted former Sichuan Vice Governor Peng Yuxing (彭宇行). Sichuan’s provincial leadership has been short of one vice governor since April 2019, when former Sichuan Vice Governor Peng Yuxing was investigated by Central Commission for Discipline Inspection (CCDI). Wang Fengchao spent his entire career in Sichuan, initially at Sichuan Changhong Electric Company, China’s second-largest television manufacturer. Wang was critical in making the company a leading brand of consumer electronics in China. Wang was appointed Neijiang Vice Mayor in 2005, and then transferred to become Sichuan State Asset Supervision and Administration Commission (SASAC) Vice Chairman in two years. He was appointed Sichuan Airlines General Manager in 2010 and then became chairman of the airline. Wang was appointed Sichuan Development Holding Company Chairman in July 2015, leading the provincial state-owned asset management company. In 2018, Sichuan Development Holding Company became Sichuan’s first SOE with over CNY one trillion total assets, under Wang’s watch. Wang has also been taking a concurrent appointment as Sichuan Financial Holding Company’s Chairman since February 2017. The company is Sichuan’s first financial holding platform. In April 2019, a Sichuan SOE reform ETF was listed on Shenzhen Stock Exchange, with Sichuan Financial Holding Company taking the leading role. It is the first SOE reform ETF in Midwest China.

On 26 September 2019, Hubei government appointed former Hubei Organization Department Deputy Head Xiao Juhua (肖菊华) as Hubei Vice Governor, succeeding Chen Anli (陈安丽), who was appointed Hubei CCPSC member and Organization Department Head in May. A female official is required at every level of government in China as a demonstration of gender equality. With Chen Anli’s departure from Hubei government, the province has been lacking a female vice governor for four months, primarily because it is hard to find a competent female official—although it is required for all levels of government to have female officials, female officials are still systematically discriminated in China’s cadre promotion.

On 26 September 2019, Inner Mongolia CCPSC member, Tongliao Party Secretary Li Jiexiang (李杰翔) was transferred to Qinghai as Vice Governor. Qinghai has had a vacant seat for an executive vice governor since May 2019, when former Qinghai CCPSC member and Executive Vice Governor Wang Yubo (王予波) was appointed Yunnan Vice Party Secretary. Having the Inner Mongolia CCPSC ranking, Li Jiexiang is most likely the successor of Wang Yubo.

On 17 September 2019, former All-China Federation of Returned Overseas Chinese Vice Chairman Li Bo (李波) went to Chongqing Securities Regulatory Bureau for an inspection tour as Chongqing municipal government CCP committee member, indicating that he has been appointed as Chongqing Vice Mayor. His appointment was later confirmed on 26 September 2019. Li Bo has an extraordinary background, for that he was a “returned” official who went to the United States and earned a Ph.D. in economics from Stanford University and a J.D. from Harvard University. At Stanford, Li studied under Nobel Laureate Kenneth Arrow. Li started his career as a lawyer in New York, before returning to China in 2004 to the PBOC—China’s central bank—as Department of Treaty and Law Deputy Director. He was appointed Department of Treaty and Law Director in 2008 at age 36, becoming one of the youngest full-departmental officials at the time. In that role, Li was key to the legislation of anti-money laundering and foreign exchange management, as well as to the reform of state-owned commercial banks. Li was also a key official in RMB internationalization, during his tenure at PBOC’s Department of Monetary Policy II. Chongqing has been lacking a vice mayor since former vice mayor Li Dianxun (李殿勋) was appointed Hunan CCPSC member in May 2019.

On 16 September 2019, former Industrial and Commercial Bank of China (ICBC) Vice Governor Tan Jiong (谭炯) appeared publicly in a Guizhou CCPSC meeting, confirming the earlier rumor that he has been appointed to the local government. His appointment as Guizhou Vice Governor was later confirmed on 27 September 2019. Guizhou has been lacking a vice governor since former vice governor Pu Bo (蒲波) was ousted in May 2018.

On 4 September 2019, it was made public that former Shanghai Academy of Spaceflight Technology (SAST) President and Shanghai Aerospace Industry Company (SAIC) Chairman Dai Shoulun (代守仑) has been appointed Harbin Vice Party Secretary. Defense technocrats with aerospace background and experience in China’s defense R&D coordinator State Administration of Science, Technology, and Industry for National Defense (SASTIND) and its predecessor Commission of Science, Technology, and Industry for National Defense (COSTIND) have been systematically favored in Xi’s China. Currently, 11 full-ministerial officials come from defense industry background, including eight Central Committee full members and two Central Committee alternate member. Eight of them are provincial party secretaries or governors.

On 30 August 2019, China Shipbuilding Industry Corporation (CSIC) Chairman Hu Wenming (胡问鸣) and State Development and Investment Corporation (SDIC) Chairman Wang Huisheng (王会生) both retired due to approaching and reaching age limit set for central SOE managers. The retirement of Hu and Wang opens the new wave of SOE personnel reshuffle—there are almost a dozen central SOE leaders—those managed by State Asset Supervision and Administration Commission (SASAC)—reaching the required age limit of 63 within this year and next year. We expect most of them to retire on or before their 63rd birthday.

News: Former Chinese Ambassador to Afghanistan Liu Jinsong (刘劲松) was appointed Director of Policy Planning at the Chinese Ministry of Foreign Affairs (MFA). Quick Take: Born in 1972, Liu Jinsong is one of the youngest departmental-level directors at MFA. With a master’s degree from the Fletcher School at Tufts University, his resume is extremely well-rounded compared to many of his peers: before becoming Chinese ambassador to Afghanistan, Liu held embassy posts in Thailand, Japan, the UK, and India. He also worked on Hong Kong/Macau/Taiwan affairs, in addition to several posts within MFA’s policy research and economic affairs departments. From 2012-2015, Liu served as MFA liaison to Silk Road Fund, where he took a board seat at one of China’s largest state-owned funds investing in the Belt and Road region. With his young age and rich experience in both policy planning and foreign service, Liu is a rising star within MFA and likely being groomed for vice-ministerial level positions.