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Japan-savvy Citic chairman Chang Zhenming retires

Group names deputy central banker Zhu Hexin as successor

Chang Zhenming has been instrumental to partnerships between Chinese and Japanese corporations.   © Reuters

BEIJING -- Chang Zhenming will step down after a decade as leader of Chinese state-owned conglomerate Citic, the company said Friday.

The Beijing-based group, which has a broad portfolio spanning financial services to property development, said Zhu Hexin, People's Bank of China deputy governor, would replace Chang as chairman and Communist Party secretary.

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