News: Former Yunnan SASAC Chairman Luo Zhaobin (罗昭斌) was appointed Yunnan People’s Government Vice Secretary-General with a full-departmental ranking today.
Quick Take: Before Yunnan, Luo had worked respectively in the former State Bureau of Building Materials Industry, an organization abrogated in 2001; and the then Board of Supervisors of Large Key State-owned Enterprises, an organization merged into SASAC in 2003 and then into National Audit Office in 2018. In 2014 he served a two-year temporary position as the Yunnan provincial government Vice Secretary-General with a full-departmental ranking, and became Yunnan SASAC Chairman in 2016, but only to return to the previous post three years later today. Luo’s appointment is likely related to the notorious default of Yunnan State-owned Capital Operation in 2018, which happened during his term as Yunnan SASAC Chairman. The default has resulted in a series of disruptions, including the ousters of both Yunnan Capital Chairman Liu Gang (刘岗) in November 2018 and its Deputy General Manager Wang Qing (王庆) in January this year.