President of China Construction Bank Resigns After Less than a Year

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The head of one of China’s big six state-owned banks has resigned from his position after less than a year in office.

China Construction Bank (CCB) announced on 24 March that CCB president Wang Jiang (王江) had submitted a resignation request to the board of directors.

Wang’s resignation comes less than a year after he was assumed the role of CCB president in March of last year.

Wang, a graduate of Xiamen University with a PhD in economics, is a CCB veteran, having worked for the bank since the turn of the century.

From June 1999 to September 2000 Wang served as deputy head of the loan risk management office of CCB’s Shandong province branch, before assuming the role of head the Dezhou branch until October 2002.

Wang subsequently served as head of the CCB’s Shandong province branch, as well as its Hubei province and Shanghai branches, during the period from 2002 to 2015.

From August 2015 to July 2017 he was deputy-president of Bank of Communications – another big state-owned Chinese lender, while from July 2017 to November 2019 he served as the deputy-governor of coastal Jiangsu province.

CCB saw net profits of 233.173 billion yuan for the first three quarters of 2021, for a YoY rise of 12.31%. As of the end of the third quarter of last year, CCB’s total assets were 30.14 trillion yuan, for an increase of 2 trillion yuan, or 7.12% compared to the start of 2021.

Total liabilities were 27.59 trillion yuan, for an increase of 1.84 trillion yuan, or 7.16%.