China's sovereign wealth fund China Investment Corp. is expected to officially appoint Hu Hao chairman of its supervisory board after securing regulatory approvals, Caixin reported Jan. 21, citing sources familiar with the matter.

Hu has been serving as senior executive vice president of Industrial & Commercial Bank of China Ltd. since late 2015. Once appointed, he will replace Yang Guozhong who left the sovereign wealth fund in November 2019 to assume the same role at ICBC.