A top Shanghai government and financial official is set to become chairman of the Shanghai Pudong Development Bank, where his wife is currently vice-president, the official Xinhua agency said on Saturday.
Ji Xiaohui, deputy secretary general of the Shanghai government and head of the city's Financial Services Office, will take over from Jin Yun who is due to retire soon, the report said, citing unidentified sources. Vice President Ma Li will be moved to an insurance company to avoid conflicts of interest, Xinhua added.
Xinhua did not say when 52-year-old Ji would take up the post. He headed the Shanghai branch of the Industrial and Commercial Bank before moving into government. A medium-sized commercial bank, Pudong is the biggest lender in Shanghai. It notched up a 31 percent increase in 2006 net profit to 3.35 billion yuan ($434 million).
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