(Yicai Global) Aug. 30 -- The China Banking Regulatory Commission on Aug. 29 elected Zhu Shumin, former president of Agricultural Development Bank of China, to serve as vice chairman, insiders from the regulator told Yicai Global.

The commission's leadership now includes five key figures, Guo Shuqing, chairman, Wang Zhaoxing and Cao Yu, vice chairman, Du Jinfu, commissioner of discipline inspection, and Zhu.

Though the news has been formally announced internally, the regulator has not made a public statement.

Zhu, 57, filled a number of roles at the Agricultural Development Bank of China, including vice chairman, president and deputy secretary of the party committee.

China's banking regulator has undergone big leadership changes in recent years. In May 2016, Zhou Mubing, former vice chairman, left his post to join Agricultural Bank of China Ltd. [SHA:601288]. In February 2017, Shang Fulin, chairman, retired, and in May 2017, Yang Jiacai, assistant chairman, was removed from office on suspicion of graft.