The appointments of new heads for three posts that are key to China's economy were announced on Friday.

China's top legislature appointed He Lifeng, 62, as the new head of the National Development and Reform Commission, the top economic regulatory body, on Friday. He replaced Xu Shaoshi, 65, who is due to retire.

The commission is one of the most powerful decision-making bodies, responsible for drafting development plans and supervising pricing and key industries.

He has been vice-minister of the commission since 2014 and was in charge of regional economic development.

Before joining the NDRC, He was deputy Party secretary of Tianjin municipality from 2009 to 2012. One of his focuses was development of the Binhai New Area, the first national innovative zone approved by the State Council.

Heholds a PhD in economics from Xiamen University in Fujian province.

Meanwhile , Zhong Shan has been appointed as the new commerce minister.

Zhong, 61, former China international trade representative and vice-minister of commerce, will replace 66-year-old Gao Hucheng.

Before serving in the ministry, Zhong was vice-governor of Zhejiang province and head of a number of State-owned trading companies.

Unlike his predecessor, who has a strong background in finance, Zhong has rich experience in making trade and investment policies, according to the Center for China and Globalization, a Beijing think tank.

Li Gang, vice-president of the Chinese Academy of International Trade and Economic Cooperation in Beijing, said, "As China faces a complex global political and economic situation ... Zhong's main job will be to ensure that China will continue to promote a multilateral global trade system."

The Party also announced that Shandong Governor Guo Shuqing has resigned from his position to become head of the China Banking Regulatory Commission. He replaces Shang Fulin, who has been CBRC chairman since October 2011.

Contact the writers at wangyanfei@chinadaily.com.cn