What’s new: Xing Guijun, formerly chief of the City Commercial Bank Supervision Department of the China Banking and Insurance Regulatory Commission (CBIRC), has been appointed head of the Shandong branch of the commission and started work on Monday, sources told Caixin.
The previous director of the Shandong branch, Wang Junshou, has moved to Shanghai to become the CBIRC branch director there, replacing Han Yi, who is being probed for graft.
The background: Xing, around 47, has a doctoral degree and extensive experience in supervising rural financial institutions. The Shandong local previously worked for the Harbin office of the central bank, the now-defunct China Banking Regulatory Commission, and the Large Commercial Bank Supervision Department of the CBIRC.
He took on supervision of city commercial banks and private lenders in the first half of 2020. On his watch, the number of city commercial banks has fallen due to mergers, and private banks have been slapped with heavy fines.
This story has been updated.
Contact reporter Zhang Yukun (yukunzhang@caixin.com) and editor Heather Mowbray (heathermowbray@caixin.com)
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