He Jinsong has been formally proposed as the new chairman of China CITIC Financial Asset Management Co., Ltd. (referred to as CITIC FAMC), according to an announcement released on August 17. The company proposed the appointment of He Jinsong as an executive director and chairman, with his executive director term commencing upon shareholder approval and subsequent regulatory clearance from the National Financial Regulatory Administration. The director term is set for three years, renewable upon re-election. Following regulatory approval, his chairman term will align with his director tenure. In accordance with the company's articles of association, He Jinsong will also assume the role of chairman of the Board's Strategic Development Committee during his tenure as chairman.

At 57 years old, He Jinsong holds the title of Senior Economist and earned both his bachelor's and master's degrees in economics from Southwestern University of Finance and Economics, where he studied in the Agricultural Economics Department and the School of Finance. With extensive experience in the banking sector, He Jinsong's career prior to joining China CITIC Bank (formerly known as CITIC Industrial Bank) included a position at Sichuan Rural Trust and Investment Company. From October 1997 to May 2013, he held various roles at CITIC Bank's Chengdu Branch, progressing from deputy branch manager (presiding over work) to branch manager, general manager of the corporate banking department, party committee member, assistant general manager, and deputy general manager. Between May 2013 and January 2015, he served as general manager of the Legal Affairs and Asset Preservation Department at CITIC Bank. From January 2015 to July 2018, he sequentially held the positions of Party Committee Secretary of the Chengdu Branch and then Party Committee Secretary and Branch Manager of the same branch. He then served as Party Committee Secretary and Branch Manager of the Shanghai Branch from July 2018 to July 2022. In July 2022, he became Party Committee Secretary and Branch Manager of the Beijing Branch, and from April 2024 to July 2026, he took on roles as a member of the Party Committee and Deputy President of CITIC Bank, while concurrently serving as Party Committee Secretary and Branch Manager of the Beijing Branch.

Where to begin with the leadership transition: on July 20, CITIC FAMC announced that Liu Zhengjun had resigned as chairman, executive director, and head of the Strategic Development Committee due to reaching retirement age, with the resignation taking effect on July 20, 2026.

In a separate development, the National Financial Regulatory Administration has approved Jiang Shan's appointment as Vice President and Chief Financial Officer of China Great Wall Asset Management Co., Ltd. (referred to as China Great Wall Asset). Jiang Shan, who holds a master's degree in economics from Southwestern University of Finance and Economics and the title of Senior Accountant, currently serves as a member of the Party Committee and Vice President of the company. Her career trajectory includes roles at the People's Bank of China from 1993 to 2014, where she progressed from Deputy Section Chief to Section Chief, Deputy Division Chief, and Division Chief. From 2014 to 2026, she held positions as Director, Party Committee Member, and Deputy General Manager at Huida Asset Custody Co., Ltd.