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Sources say China has named Wang Yong as the director of the State-owned Asset Supervision and Administration Commission.
The incumbent Commission director, 66-year old Li Rongrong, is expected to retire. Wang most recently served as the Director of the Administration for Quality Supervision, Inspection and Quarantine. The SASAC, which specializes in managing state-owned assets and enterprises, was established in 2003 and has been led by Li ever since.
Wang Yong was the deputy director of the commission from 2003 to 2005. His current post at the administration will be replaced by Zhi Shuping, formerly Wang's deputy.