ICBC revamps governance, dissolves board of supervisors

Industrial and Commercial Bank of China Limited (ICBC) announced the approval of amendments to its articles of association (version 2025) and the dissolution of its board of supervisors at the annual general meeting for 2024, held on June 27, 2025. This move follows the "National Financial Regulatory Administration's Approval in relation to the Amendments to the Articles by Industrial and Commercial Bank of China Limited" (Jin Fu [2025] No.564). The amended articles and related procedural rules are effective as of the approval date.

As a direct consequence of these approved amendments, the bank's board of supervisors and individual supervisors are legally dismissed. Consequently, the rules of procedure for the board of supervisors are abolished. Former supervisors, including Mr. Huangli, Mr. Zhangjie, and Mr. Liu Lanbiao, will no longer serve. The bank confirmed these individuals have no disagreements and no other relevant matters require shareholder or creditor attention, expressing gratitude for their contributions.

The updated articles of association, effective from September 23, 2025, outline the bank's governance structure, including the composition and powers of the board of directors, which now comprises 13 to 19 directors with specific requirements for independent and employee directors.