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Recently, Zijin Bank announced that Zhao Yuankuan will no longer serve as the company's chairman, director, chairman of the board's strategy and inclusive finance committee, and member of the board's remuneration and nomination committee due to age. The board of directors elected Shao Hui as the company's fourth chairman of the board. Shao Hui's qualifications for the position still need to be reported to the financial regulatory authorities and he needs to complete the prescribed procedures before taking office. Prior to this, according to relevant regulatory provisions, the board of directors agreed to nominate Shao Hui to perform the duties of the company's chairman.

Before getting the new position, Shao Hui was the chairman of Wuxi Bank. On August 6, Wuxi Bank announced that Shao Hui resigned from the company's chairman, executive director and related positions of the board of directors' special committee due to work transfer.

At the same time, Tao Chang, the former president of Wuxi Bank, was elected as the new executive director and currently serves as the party secretary of the bank. According to information, after Tao Chang left the post of president of Wuxi Bank in November last year, he served as the party secretary and chairman of Jiangsu Jingjiang Rural Commercial Bank.

According to his resume, Shao Hui was born in June 1971, is 53 years old, has a bachelor's degree, a master's degree, is an engineer, and is a senior economist. He once worked at Wuxi Tianyuan Electronic Technology Application Engineering Company, was assistant to the chief of the computer information department of Wuxi Suburban Credit Union, deputy director (in charge of work) of Ganlu Credit Union of Wuxi Suburban Credit Union, member of the Party Committee and vice president of Jiangsu Xizhou Rural Commercial Bank, vice president, president, and deputy secretary of the Party Committee of Wuxi Bank, and was later promoted to secretary of the Party Committee and chairman of Wuxi Bank.

On March 20, 2018, the former China Banking Regulatory Commission Wuxi Supervision Branch approved Shao Hui's qualifications to serve as chairman of Wuxi Bank. On June 13 of the same year, the former China Banking Regulatory Commission Jiangsu Supervision Bureau approved Shao Hui's qualifications to serve as director of Jiangsu Rural Credit Cooperatives Union.

Since March 2018, Shao Hui has served as chairman of Wuxi Bank for more than six years, approaching the seven-year core executive rotation period stipulated by the regulator. Every reporter noted that in these six years, Wuxi Bank's total operating income increased from 3.192 billion yuan in 2018 to 4.538 billion yuan in 2023, an increase of 42.17%; net profit attributable to shareholders of listed companies increased from 1.096 billion yuan in 2018 to 2.200 billion yuan in 2023, an increase of 100.73%; total assets increased from 154.395 billion yuan at the end of 2018 to 234.956 billion yuan at the end of 2023, an increase of 52.18%. At the same time, Shao Hui's annual salary before tax also increased from 1.4888 million yuan in 2018 to 1.736 million yuan in 2023.

It is reported that Shao Yong paid more attention to asset quality during his tenure at Wuxi Bank. Last year, Shao Yong said in an interview with the media that "stable development is crucial for small and medium-sized banks." "We must maintain the bottom line of risk and take risk prevention as our lifeline. Only by strictly controlling risk can we reduce the cost of paying for bad loans and achieve profit growth."

Annual reports over the years show that from the end of 2018 to the end of 2023, the non-performing loan ratio of Wuxi Bank was 1.24%, 1.21%, 1.10%, 0.93%, 0.81% and 0.79% respectively.

Daily Economic News