China Environmental Technology Holdings Limited announced that Mr. Pan Yutang was removed from the post of chief executive officer of the Company and Mr. Xu Xiao Yang has been appointed as chief executive officer of the Company. Mr. Xu, aged 49, is an executive director and the CEO of the Company. He has over 20 years of management experience in the businesses of foreign trading, logistics, finance, education and real property. Before Mr. Xu joined the Company and its subsidiaries in 2008, he worked as a general manager of investment department of Neo-China Land Group (Holdings) Limited.