Heads of Two Major Chinese Commodity Traders Swap Jobs in Xiamen

Senior executives at two of the biggest Chinese commodity traders have swapped jobs, in a rare move initiated by authorities in the southeastern city of Xiamen where they are based.

Xu Xiaoxi, chairman of Xiamen ITG Holding Group Co., will assume the same role at Xiamen C&D Corp., according to people with the knowledge of the matter. Zheng Yongda, C&D’s general manager, will take over Xu’s job, said the people, who asked not to be named as the information is private.