Bank of China in HK Names New Leadership

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Last updated at: (Beijing Time) Thursday, May 29, 2003

Bank of China in HK Names New Leadership

Bank of China's (BOC) listed flagship in Hong Kong named a new chairman and a chief executive Wednesday after a board meeting.

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Bank of China's (BOC) listed flagship in Hong Kong named a new chairman and a chief executive Wednesday after a board meeting.

He Guangbei, executive vice-president of BOC with extensive foreign experience, was appointed chief executive of BOC Hong Kong(Holdings), the second-largest lender in Hong Kong, local press reported Thursday.

Xiao Gang, chairman and president of BOC, is also chairman of BOC Hong Kong.

He Guangbei told press Wednesday that he would continue to implement the strategy devised by the previous board to achieve the bank's goals.

An arduous task before he will be to cut, as planned, the bank's bad-debt ratio from 7.99 percent at the end of last year to below 7 percent by the end of this year.

Share prices of BOC Hong Kong closed up 0.61 percent at 8.20 HKdollars (1.05 US dollars) Wednesday.

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