(Yicai Global) Dec. 27 -- The State Council has appointed Yan Qingmin as the vice chairman of the China Securities Regulatory Commission, the CSRC said yesterday.

As approved by the Organization Department of the Communist Party of China, Yan will concurrently serve as Member of the Party Committee of the CSRC.

The CSRC previously had four vice chairmen and three assistant chairmen, Caijing reported. Yan may take over work that was once the responsibility of Vice Chairman Jiang Yang, who reached retirement age in September last year, insiders said.

Yan has worked for the People's Bank of China and the China Banking Regulatory Commission. He acted as vice chairman of the CBRC from May 2013, and as deputy mayor in Tianjin from December 2014 until earlier this month.