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Leadership switch at top Chinese oil firms

Reshuffle to overhaul state sector as part of President Xi's insistence that market forces play a more decisive role

Led by Mr Fu, Sinopec was at the forefront of China's push to restructure its state-controlled companies. He oversaw last year's sale of 30 per cent of its fuel retail unit to 25 investors for US$17.5 billion.

Hong Kong

CHINA is preparing to shuffle the leadership of its biggest oil companies, helping to clear a path in a crucial area of the economy for President Xi Jinping as he plans his overhaul of the nation's bloated state sector.

Changes to the top executives at China National