Wang Shenchao, the founder and chairman of Shanghai International Container Terminal Company (SICCo), has been named as the new chairman of the Shanghai Stock Exchange (SHSE) board.

Wang's appointment was announced at a ceremony held in the city's People's Square on Wednesday. He will take over from current chairman Li Xuehai, who is stepping down after serving for seven years.

Wang, 62, has been with SICCo since 1985 and has held various senior positions within the company. He is known for his expertise in logistics and transportation, and has played a key role in the development of Shanghai's port industry.

In addition to his work at SICCo, Wang is also a member of the board of directors of several other companies, including the China Construction Bank and the China Merchants Group.

His appointment to the SHSE board comes at a time when the exchange is facing increasing pressure to improve its performance and attract more investment. Wang's experience and connections could help the SHSE navigate these challenges and continue to be a leading player in the Chinese stock market.

• Latest
• News
• Updates
• Shanghai
• Port