ABC approves director election and debt instrument plan

Agricultural Bank of China (SSE:601288) successfully convened its first extraordinary general meeting of shareholders for 2025, according to a legal opinion issued by Beijing King & Wood Mallesons. Shareholders approved the election of Zhang Qi as an independent director, although the appointment is still subject to regulatory approval from the National Administration of Financial Supervision and Management. The approval rate for Zhang's election was 99.98%. A plan regarding capital instruments and total loss-absorbing capacity non-capital bonds was also approved by a vote of 99.99%. Over 5,000 shareholders attended, representing 302.69 billion shares, or 86.49% of the bank's total shares.