China Mobile parent names new president

HONG KONG, CHINA: The state-run parent of China Mobile said on Monday that it has named a new president, Li Yue, to replace Wang Jianzhou, who will assume the newly created post of chairman.

Under the shuffle, Wang, chairman of publicly traded China Mobile, the world's largest mobile carrier by subscribers, would also become the parent company's party secretary, China Mobile said in a statement.

Analysts said the shuffle was part of a move to make China Mobile's parent company, China Mobile Communications Corp, more systematic and business-like, including the new formation of a board of directors that Wang will head.

Wang has already passed the official retirement age of 60 and frequent rumours have cropped up from time to time that he may retire soon.