Zheng Guoyu approved as chairman of Postal Savings Bank

Postal Savings Bank of China Co., Ltd. (HKEX: 1658) announced that Mr. Zheng Guoyu has been approved as Chairman of the Board by the National Financial Regulatory Administration, effective February 13, 2025. The Board of Directors had nominated and approved Mr. Zheng's candidacy on January 2, 2025, with shareholder approval following on January 22, 2025. This approval follows regulatory clearance detailed in "Jin Fu [2025] No. 100." Mr. Zheng Guoyu will also serve as the legal representative of the Bank and Chairman of the Strategic Planning Committee. The announcement clarifies that Postal Savings Bank of China is not an authorized institution under Hong Kong's Banking Ordinance and is not subject to supervision by the Hong Kong Monetary Authority.