Former chairman of Sinochem Holdings Ning Gaoning retires
Sinochem Holdings recently announced that Ning Gaoning will no longer serve as chairman and party secretary. Li Fanrong became the new top leader of the large state-owned enterprise. The reason? According to industry insiders, Ning Gaoning is about to turn 64 years old and therefore his departure is probably best categorised as official retirement. It is reported that under normal circumstances, the retirement age of the top leaders of China’s central enterprises is 63 years old. From this perspective, Ning Gaoning has already out-worked normal tenure.