One Chairman, Two Companies? More Signs of a Grace-Hua Hong Merger

Hua Hong after four months of reorganization has announced that Mr. Wenbiao Fu will be the new chairman of the firm (link). This appointment suggests that the Grace-Hua Hong merger (see my post from November 1 2008) is finally going to reach fruition as Mr. Fu is already serving as chairman of Grace, a post he assumed on February 12 after stepping down as Chairman of the powerful municipal government agency, the Shanghai Municipal Informatization Committee.