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PICC Group chairman steps down

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PICC Group chairman steps down

People's Insurance Co. (Group) of China Ltd. said Wu Yan resigned as its chairman and executive director, effective Dec. 8.

Wu, who joined the group in 2007, stepped down "due to work arrangements," according to a Dec. 8 filing.

Earlier in November, China's Economic Observer Online cited sources saying that Miao Jianmin, vice chairman and president of PICC Group, is set to replace Wu Yan, who will join the country's National Council for Social Security Fund as its vice chair.