China will soon appoint Liu Guiping as the new chairman of the Bank of China, which is the country’s fourth-largest state-owned bank, according to two people familiar with the news. Liu currently works as the executive vice mayor of Tianjin city. He will replace Ge Haijiao, the current chairman, who will become the governor of Shanxi province in northern China.
The appointments are expected to be officially announced this week. The Tianjin city government, Shanxi province government, and Bank of China have not responded to requests for comments yet.
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Liu Guiping is 59 years old and has many years of experience in China’s financial sector. He was the deputy governor of the People’s Bank of China from late 2020 to early 2022. Before that, he was president of China Construction Bank from 2019 to 2020. He also worked at China Investment Corporation from 2014 to 2016 and spent over 20 years at Agricultural Bank of China.
Ge Haijiao will take over from Jin Xiangjun, who is currently under investigation for serious legal violations. This investigation is part of a wider anti-corruption campaign led by Chinese President Xi Jinping, who says corruption is the biggest threat to the Communist Party of China.
