TAIPEI (REUTERS) - China Airlines Ltd's Chairman Chang Chia-juch has been appointed as Taiwan's new economics minister, the government said late on Sunday, as part of a reshuffle following the replacement of the vice premier last week.

Mr Kuan Chung-Ming, currently a minister without portfolio, will chair the Council for Economic Planning and Development, the government's executive yuan said in a statement.

Last Thursday, the presidential office announced that vice premier Jiang Yih-Huah would replace Mr Sean Chen as premier.

A source said central bank chief Perng Fai-nan will stay in his post for a fourth five-year term despite speculation he was about to retire.