China Chengtong Group, a large logistics conglomerate, has announced the appointment of Wang Yonghai as the general counsel of China Asset Management Corporation (CAMC) – an important wholly owned subsidiary of the group.
Wang will remain a vice-president of CAMC while he serves as general counsel. With 17 years’ experience, both in-house and in private practice, he is responsible for all the legal affairs of the company, which manages more than RMB10bn in assets, and reports directly to the president. A dedicated legal affairs department has also been set up.
Dacheng partner Tuo Mingzhong, the company's long-term external counsel who has been on a retainer basis since 2000, will continue to provide legal support and advice.
As part of Chengtong Group’s plans to improve its legal risk management and corporate governance, it aims to appoint general counsel for another four important subsidiaries by 2010. The group's general counsel, Tang Mingyi, was appointed in early 2008 through public recruitment of senior executives for the central SOEs, which was organised by the State Assets Supervision and Administration Commission of the State Council.
Before joining Chengtong Group, Tang served as the manager of the law and regulatory department at the Civil Aviation Administration of China.