Yinlian President Guo Dayong assumes new role as Party Secretary of Shanghai Gold Exchange

On September 15, Guo Dayong was appointed Party Secretary of the Shanghai Gold Exchange on the morning of September 14 and nominated as Chairman of the Shanghai Gold Exchange. Guo Dayong was formerly Deputy Party Secretary, President, and Vice Chairman of China UnionPay. Prior to this, the former Chairman of the Shanghai Gold Exchange, Yu Wenjian, assumed the positions of Deputy Party Secretary and Director of the People's Bank of China Shanghai Head Office, President of the Shanghai Branch, and Director of the Shanghai Branch of the State Administration of Foreign Exchange in July this year, leaving the position of Chairman of the Shanghai Gold Exchange vacant until Guo Dayong took over this time. This personnel adjustment did not surprise the outside world, as both the Shanghai Gold Exchange and China UnionPay are financial infrastructure institutions under the central bank system, and there have been precedents of a China UnionPay President being transferred to head the Shanghai Gold Exchange.