(GUO CHENG)

Wei Jiafu, President and CEO of China Ocean Shipping (Group) Co. (COSCO), the country's largest and the world's leading group specializing in global shipping, modern logistics and ship building and repairing, was appointed co-chair of the 2011 Annual Meeting of the World Economic Forum, or Davos Forum, held on January 26-30 in Davos, Switzerland.

Wei, 51, was born in Jiangsu Province and is a senior engineer with a doctoral degree in naval architecture and a master's degree in shipping management. With around 36 years in the shipping industry, he has diverse experience in international shipping management and operations.

In 1993, as president of COSCO (Singapore) Ltd., Wei transformed the company into a public listed company by acquisition, marking its first step into the international capital market. Wei has been managing director in many of COSCO's subsidiaries at home and abroad, and in charge of corporate asset operation and management as a key member of top management before being appointed the group's president and CEO in November 1998.