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On the morning of March 12, the Organization Department of the CPC Shanghai Municipal Committee held a meeting announcing the decision to adjust the management of Shanghai International Group (SIG). Zhou Bo, Member of the Standing Committee and Executive Vice Mayor of the Shanghai Municipal People's Government attended the meeting and delivered important speeches. Song Yijia, Deputy Secretary-General of the Shanghai Municipal People's Government, Party Secretary and Director-General of the Shanghai Municipal State-owned Assets Supervision and Administration Commission presided over the meeting. Leng Weiqing, Deputy Director-General of the Organization Department of the CPC Shanghai Municipal Committee announced the appointment and dismissal decision of the municipal government: Yu Beihua will be appointed as Chairman of SIG; and Shen Jun will no longer serve as Chairman of SIG. Members of the Organization Department of the CPC Shanghai Municipal Committee; SIG's leaders including Shen Jun, Yu Beihua and Fu Fan, as well as heads of SIG's departments and subsidiaries attended the meeting.