Former chairman Jeremy Peace united a deal to sell to the cluster, light-emitting diode by bourgeois Guochuan Lai, last month.
"I'm delighted to finish the acquisition and to become subsequent steward of the club," said Lai.
Peace, WHO took over as chairman in 2002, added: "It has been an incredible privilege to guide the Great Britain."
Lai, 42, oversaw the expansion of landscaping company Palm in his home country before retiring in might 2014 to specialise in non-public investment.
Palm, that was valued at £1.8bn on the Chinese stock market, has contributed to the takeover.
The deal was united in Gregorian calendar month and had been looking ahead to approval from the money Conduct Authority and also the Premier League.
Albion ar the third West Midlands club to be bought by Chinese investors this summer following the recent takeovers of Aston Villa and Wolves.
Peace added: "I am proud that eleven of my fifteen seasons as chairman are spent within the Premier League while 3 others brought automatic promotion from the Championship.
"Guochuan Lai has been a ancillary partner throughout the relinquishing method and that we have each done everything doable to maneuver the club forward."
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