(Yicai Global) Oct. 22 -- Wang Fenghai, general manager of the Dalian Commodity Exchange, will switch places with his counterpart at the Shanghai Futures Exchange Xi Zhiyong as China's biggest three futures markets re-jig their management teams, according to The Paper.

The China Securities Regulatory Commission decided to remove Xi from his post, the Shanghai Futures Exchange said online yesterday. He had held the position since February 2017, while his successor has led the DCE since June 2016.

Xi's appointment at the DCE will be announced this week, The Paper reported.

The CSRC also appointed Huo Ruirong as director and general manager of the China Financial Futures Exchange on Oct. 11, the watchdog said online yesterday. His predecessor Rong Zhiping will switch to another role at the organization.

Huo is a former deputy general manager at the SFE and worked with the CSRC's Shanghai arm for two years from February 2015 before joining the China Futures Market Monitoring Center as deputy GM.

Editor: James Boynton