Bank of Communications chairman of supervisors resigns

Bank of Communications announced the resignation of its Chairman of the Board of Supervisors, Xu Jiming, effective January 15, 2025. The resignation is due to a job adjustment, and Mr. Xu confirmed no disagreements with the board or matters requiring disclosure to shareholders or creditors. The announcement praised Mr. Xu's diligent service, including strengthening party leadership within corporate governance, implementing national economic and financial policies, and enhancing the effectiveness of the board's oversight functions in areas like strategy, finance, risk management, and compliance. The board expressed gratitude for Mr. Xu's contributions towards modernizing the bank's corporate governance framework.