Cai Yong is a senior economist with a master’s degree. In November 2013, he was appointed Chief Financial Officer of CNPC Iraq Company. In March 2016, he was appointed Chief Financial Officer of CNPC Middle East. In April 2018, he was appointed Director General of the Finance, Tax and Price Department of CNPC and PetroChina. In October 2018, he was appointed Director General of the Funding Department of CNPC and PetroChina. In April 2021, he was appointed Director General of the Financial Department of CNPC. In December 2024, he was appointed Assistant President of CNPC, and Chairman and Secretary of the Party Committee of CNPC Capital Co., Ltd. In March 2025, he was appointed Member of the Leading Party Member Group and Chief Financial Officer of Sinopec Group.