Xu Peng, the former chairman of Chinese state-owned equipment manufacturing giant China First Heavy Industries (CFHI), has become the new chairman of China State Shipbuilding Corp (CSSC).

Xu replaces Wen Gang who was reported to be detained in a graft investigation last November.

Two top CSSC executives caught up in graft investigation by Chinese authorities
 Read more

According to local news agencies, Xu will be CSSC’s first chairman with a sales background.