Postal Savings Bank of China names Zheng Guoyu as new chairman

Postal Savings Bank of China (PSBC) has appointed Zheng Guoyu as its new Chairman and Non-executive Director, effective upon regulatory approval. Mr. Zheng's term will be three years. He replaces outgoing Chairman Liu Jianjun. Mr. Zheng holds a Master's in Business Administration from Huazhong University of Science and Technology and is a senior economist. He previously held leadership positions at Bank of China and Industrial and Commercial Bank of China. Most recently, he served as Director, President, and Chief Compliance Officer of China Post Group Corporation Limited. The appointment is subject to shareholder approval for the directorship and regulatory approval from the National Financial Regulatory Administration for both roles. Mr. Zheng will not receive remuneration from PSBC.