Zhao Huan, president of Agricultural Bank of China ABC, has been appointed chairman of China Development Bank CDB as the policy bank leverages on his extensive experience in handling non-performing loans to manage the soaring assets on its balance sheet.
Zhao’s appointment was confirmed after ABC said on Tuesday he would step down from his role as president and vice-chairman with immediate effect. The appointment is subject to approval from the China Banking Regulatory Commission.
Zhao will become the fourth chairman of CDB since the lender was founded in 1994 to support the country’s infrastructure development. He will succeed Hu Huaibang, who had been chairman of...
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