BEIJING, Dec. 24 -- Zhang Yi has replaced Jiang Jiemin as head of the State-owned Assets Supervision and Administration Commission (SASAC), according to the commission's website on Tuesday.

Zhang, 63, is also secretary of the SASAC committee of the Communist Party of China.

Zhang was appointed as deputy head of SASAC in March 2013.

Jiang was removed from his post in September for suspected serious disciplinary violations.