Chinese President Xi Jinping shakes hands with Li Xiaolin, chairman of China Power International Development Ltd., daughter of former premier Li Peng, during the Boao Forum in 2013. (Photo : www.english.caijing.com.cn)
China Datang Corporation, one of the country's Big Five power companies, has appointed high-profile businesswoman Li Xiaolin as vice general manager, the China Daily reported.
Liu Qiang, vice chairman of the state-owned Assets Supervision and Administration Commission of the State Council, the regulator of more than 100 non-financial state-run companies, made the announcement on July 7, Tuesday.
Li, previously chairwoman and CEO of China Power International Development, was regarded as the most powerful woman in the industry, being the only female CEO of a Hong Kong-listed company.
"Li is familiar with the power industry and has rich management experience with listed companies and showed strong leadership when working for the State Power Investment Corp. and its subsidiary China Power International Development," Liu said during the announcement ceremony.
Li, 54, is the only daughter of Li Peng, who worked for almost 40 years in the electricity generation sector before he became premier in 1988.
Li's dress style and fashion has caught the attention of people and the media in the past few years. In 2012, she was photographed wearing a pantsuit worth $1,860 and designed by Emilio Pucci while attending the top political advisory body's annual session.
At last year's two sessions, the media noted that she used an environmentally friendly cloth bag instead of her usual luxury purses.
A story published in The Daily Telegraph in 2013 said that the high-profile businesswoman had played a major role in a deal in which Zurich Insurance, one of the world's largest insurance companies, bought nearly a quarter of New China Life insurance company shares.
China Power International Development, however, denied the claim and said that Li had no personal contact with any insurance company. The company said that Li has the right to take legal action against anyone who spread the rumors.
