One of the Chinese banking regulator’s senior-most officials has been transferred to the national social security fund according to domestic media reports, in a move that is considered part of efforts to reduce the number of vice-chairs at the authority.
According to domestic media reports Chen Wehhui (陈文辉), vice-chair of the China Banking and Insurance Regulatory Commission (CBIRC), has been transferred to the National Council for Social Security Fund.
The move arrives following media reports that Beijing plans to reduce the number of vice-chair positions at CBIRC from seven to just four.
Chen Wenhui is a Chinese insurance veteran with more than two decades of experience in the sector.
He first obtained work with the People’s Insurance Company of China (PICC) in December1997, before joining the insurance regulator in November the following year.
Chen was appointed vice-chair at the China Insurance Regulatory Commission in August 2011, serving continuously in the position until the merger of the Chinese banking and insurance regulators in March 2018.