New Leaders Appointed in Major Financial Institutions

China Wednesdy announced a major reshuffle in the leadership of its major financial institutions, including the chairman of CSRC and several Bank presidents

Zhou Xiaochuan has been appointed chairman of the China Securities Regulatory Commission, replacing Zhou Zhengqing, who has retired.

Jiang Jianqing is the new president of the Industrial and Commercial Bank of China, while Shang Fulin is the new president of the Agricultural Bank of China.

Liu Mingkang is appointed chairman of the board of directors and president of the Bank of China, while Wang Xuebing is to head the Construction Bank of China.

He Linxiang has been appointed president of the Agricultural Development Bank of China. Liu Tinghuan and Wu Xiaoling have been appointed deputy-governors of the People's Bank of China.

Chen Yujie, Xie Xuren and Wang Chengming have been appointed deputy heads of the Financial Work Committee of the Communist Party of China (CPC) Central Committee.

These reshuffle announcements by the CPC Central Committee and the State Council were aimed to further promote the development of the financial sector, strengthen institutional leadership and see more young cadres join their ranks.

The CPC Central Committee and the State Council mentioned remarkable achievements and reforms made by financial institutions in the last few years, in stabilizing the financial market, controlling financial risks and supporting the development of the national economy.

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