Liu Xinyi, president of SPDB, resigned, and Vice President Pan Weidong acted as president

Executives of shanghai municipal financial institutions are undergoing intensive adjustments.

On the evening of November 7, Spousal Development Bank issued an announcement that it had recently received the resignation of Liu Xinyi, vice chairman and president of the company. Due to work adjustment, Liu Xinyi resigned as vice chairman, executive director, president, chairman of the capital and management committee of the board of directors, member of the strategy committee and nomination committee of the company. Pending the appointment of a new President by the Board of Directors and the approval of the Qualifications of the China Banking and Insurance Regulatory Commission, Pan Weidong, Executive Director, Vice President and Chief Financial Officer, shall act as President.

Earlier, according to the China Securities News, Liu Xinyi may become the president of Shanghai International Group, and Pan Weidong will take over as the president of SPDB, taking over from Zheng Yang, who just became the party secretary of SPDB in July this year. According to the pre-appointment announcement of Shanghai municipal management cadres released by the Organization Department of the Shanghai Municipal Party Committee on October 27, Pan Weidong, vice president of Shanghai Pudong Development Bank, intends to take up the post of municipal management enterprise.

Liu Xinyi, 54 years old, born in Zhaoyuan, Shandong, full-time master's degree, master of engineering, senior economist, began working in July 1988, joined the Communist Party of China in March 1992.

Although he has experienced many job changes, Liu Xinyi can still be said to be an "old SPD" and has served in SPDB for more than 20 years. SPDB also commented in the announcement: Mr. Liu Xinyi has worked in the company for more than 20 years, especially since he became the president in 2015, under the leadership of the board of directors, diligent and conscientious, professional and dedicated, leading the senior management to actively serve the national strategy, serve the real economy, accelerate business transformation, strengthen risk management, and do a lot of fruitful work to promote the steady improvement of the quality and efficiency of the company's development, and the board of directors of the company expresses its heartfelt thanks to Mr. Liu Xinyi for his contributions during his tenure!

According to public information, Liu Xinyi served as vice president of the airport branch of SPDB, deputy general manager of SPDB Shanghai Regional Headquarters, and member of the Party Committee, and in 2002, he was seconded to the Shanghai Municipal Financial Services Office for a temporary post, and successively served as the director of the Institutional Division and the assistant director of the Municipal Financial Services Office.

In 2005, Liu Xinyi returned to SPDB as vice president of the head office, during which time he also served as the financial director of SPDB, in charge of public, financial, risk, strategy and other lines, and directly participated in the formulation of sprawl bank's previous "five major strategies", namely investment banking business, capital market and financial interbank business, small and medium-sized and small and micro enterprise business, wealth management, and mobile finance.

In January 2014, Liu Xinyi was transferred to shanghai Guosheng (Group) Co., Ltd. (hereinafter referred to as Shanghai Guosheng Group) president and deputy secretary of the party committee. Founded in September 2007, Shanghai Guosheng Group is a large-scale state-owned capital investment and operation platform company approved by the municipal government. As a product of the times of Shanghai's economic transformation and upgrading and the reform of state-owned assets and state-owned enterprises, Shanghai Guosheng Group plays an active role in innovating the system and mechanism of state-owned assets operation, promoting the operation and flow of state-owned equity, investing in cultivating strategic emerging industries, and revitalizing and integrating state-owned stock assets.

After only a little more than a year, Liu Xinyi returned to SPDB again. In April 2015, Zhu Yuchen, then president of SPDB, resigned for health reasons, and Liu Xinyi returned to take over. At that time, some sprawl bank insiders told the surging news that Liu Xinyi's return again was also expected by all.

At the 2018 annual performance conference of SPDB, Liu Xinyi once said that the provision coverage ratio of SPDB can reach the regulatory standard at about 130%, in fact, it has reached 156%, and the non-performing deviation has reached within 90%, which shows that SPD has basically digested the burden of history and is close to the average level of the industry. It can be said that the actual asset quality improvement of SPD is better than the decline in the non-performing ratio.

Recently, the senior management of financial enterprises in Shanghai has changed frequently.

On July 9, SPDB held a cadre meeting and announced that Gao Guofu would no longer hold the leadership position of SPDB due to his age, and Zheng Yang would be appointed as the secretary of the party committee of SPDB, and recommended to be the chairman of SPDB, and the follow-up procedures would be handled in accordance with relevant laws.

On September 23, Guotai Junan held a meeting on the adjustment of the leadership team, announcing that Yang Dehong would be dismissed from the post of secretary of the Party Committee and chairman of the board of directors of Guotai Junan, and He Qing, deputy secretary of the party committee and president of China Pacific Insurance Company, would take over.

On the morning of November 7, CPIC held a meeting and announced that Fu Fan, former president of Shanghai International Group, would serve as deputy secretary of the party committee of CPIC Group and would serve as the president of CPIC after completing normal procedures.

The major shareholders of Shanghai Pudong Development Bank, China Pacific Insurance Company, Guotai Junan and other companies are Shanghai International Group. According to the official website of Shanghai International Group, Shanghai International Group Co., Ltd. was registered and established on April 20, 2000, formerly known as the former Shanghai Investment Trust Company established in 1981. The Group is a municipal wholly state-owned enterprise with a registered capital of RMB 10.56 billion. After the official establishment of the group company, it established a comprehensive investment group by collecting the equity of shanghai pudong development bank, Guotai Junan and other municipal financial institutions, and actively explored the comprehensive business model of financial investment holding. In 2009, in accordance with the overall deployment of the reform of state-owned assets and state-owned enterprises in Shanghai, Shanghai International Group was further clarified as a strategic control financial investment group, and continuously expanded its financial investment layout through initiation and establishment, investment participation, integration and reorganization, etc., forming a comprehensive financial group with financial investment as the mainstay and non-financial investment as the supplement, and its business areas covering bank trust, securities funds, financial services and insurance, asset management, overseas business, and industrial investment.