Agricultural Bank of China’s Executive Director Resigns

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A top executive from one of China’s big six state-owned banks has just resigned from his position.

Agricultural Bank of China (ABC) issued a public announcement on the evening of 14 October stating that Cai Dong (蔡东), ABC executive director and vice-president, has requested resignation from his professional positions with the state-owned lender.

Cai was appointed to the position of ABC vice-president in May of this year, before becoming executive director in June.

51-year old Cai holds a master’s degree in economics from the Chinese Academy of Fiscal Sciences, and previously worked at Shandong Normal University, before assuming a succession of positions at Industrial and Commercial Bank of China (ICBC), including vice-general manager of the accounts and settlement department, vice-general manager of the electronic banking department, and head of the Tianjin branch.

In July 2016 Cai was appointed vice-president of policy lender China Development Bank, before joining ABC in May of this year.

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