According to sources from State-owned Assets Supervision and Administration Commission (SASAC), the commission and the Organization Department of the CPC Central Committee have been planning management restructures in four major state-owned shipping groups specifically Cosco, China Shipping, Sinotrans &CSC and China Merchants.
Last week SASAC removed Liu Xihan from the general manager and deputy chairman of Sinotrans & CSC. Cosco’s Wei Jiafu is also on the verge of being replaced. The age of retirement in state-owned companies is 60, with Cosco’s Wei now 63 and China Shipping’s Chairman Li Shaode 61. Industry sources predict that the current president of China Shipping, Xu Lirong will take over Li Shaode as the new chairman.
A spokesperson from China Shipping told SinoShip News that he was not aware of any personnel move in management while China Merchants declined to comment.