Exclusive: Chinese Policy Bank to Name New Vice President, Sources Say
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Yang Dongning, head of the Beijing branch of the National Financial Regulatory Administration (NFRA), is set to be appointed a vice president at the Export-Import Bank of China (Exim Bank), multiple sources with knowledge of the matter told Caixin.
Yang joined the policy bank’s Communist Party committee on Tuesday and would start as a vice president after required administrative and regulatory procedures, the sources said.
The 48-year-old was appointed director of the NFRA’s Beijing branch late last year in a major reshuffle at the new financial regulator’s local branches. Before that, she spent some 18 years at the NFRA’s two predecessors.
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- Yang Dongning is set to become a vice president at the Export-Import Bank of China after joining its Communist Party committee.
- Previously, she was the head of the Beijing branch of the National Financial Regulatory Administration (NFRA) and held significant roles at its predecessors.
- Yang, with a background in economics from Peking University and the University of London, has a distinguished career, including key regulatory positions and overseeing financial innovation supervision.
- Export-Import Bank of China
- The Export-Import Bank of China (Exim Bank) is the smallest of China's three policy lenders by total assets, with 6.4 trillion yuan ($901.7 billion) at the end of last year. The bank finances large, socially and economically crucial projects like energy and agriculture. It also carries out the central bank’s pledged supplementary lending program to support housing and infrastructure projects.
- Citigroup Inc.
- Citigroup Inc. is a multinational investment bank and financial services corporation based in New York City. It was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citigroup operates in more than 160 countries, offering a wide range of financial products and services including consumer banking, investment banking, wealth management, and treasury and trade solutions.
- May 2023：
- The National Financial Regulatory Administration (NFRA) was established.
- Late 2023：
- Yang Dongning was appointed director of the NFRA’s Beijing branch.
- By the end of 2023：
- Exim Bank had 6.4 trillion yuan ($901.7 billion) in total assets.
- Tuesday, June 25, 2024：
- Yang joined the Communist Party committee of the Export-Import Bank of China.
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