Next generation of economic regulators announced

Beijing announced three new personnel changes for the top economic regulatory jobs, marking the as yet highest-level personnel changes in the run-up to the 2012 leadership transition, Reuters reported, citing state media. Liu Mingkang, the current chairman of the China Banking Regulatory Commission, will be replaced by Shang Fulin, the current securities regulator. Former China Construction Bank (601939.SH, 0939.HKG) chairman Guo Shuqing will become chairman of the China Securities Regulatory Commission and former Agricultural Bank of China (601288.SH, 1288.HKG) chairman Xiang Junbo will become chairman of the China Insurance Regulatory Commission. The three positions are the highest-level changes yet to emerge from the behind-the-scenes jockeying taking place before the 18th Congress session next fall, when the current leadership of Hu Jintao and Wen Jiabao will step down.