The 57-year-old China Construction Bank Chairman, Liu Jin, has suddenly resigned. Three days ago, news broke that he had fallen from grace and had surrendered himself. Recently, Liu Jin was absent from a China Construction Bank board meeting.
According to an announcement by China Construction Bank on August 25th, the board received Liu Jin’s resignation letter. Liu Jin cited personal reasons for stepping down from his positions as vice chairman, executive director, member of the board’s strategic development committee, and chairman of the bank. His resignation took effect on the same day.
The board approved Chairman Ge Haijiao to temporarily assume the responsibilities of the chairman until the official appointment of a new chairman.
China Construction Bank did not disclose the specific “personal reasons” for Liu Jin’s resignation.
Three days ago on August 22nd, Hong Kong’s TVB reported on their official Weibo account that there had been a change in the China Construction Bank chairman position, with Liu Jin no longer holding the position of chairman, and it was rumored that he had fallen from grace and surrendered himself. That evening, TVB’s official Weibo account deleted the report.
Previously, Liu Jin, who had served as chairman of China Construction Bank for over 3 years, was absent from a board meeting.
On the night of August 19th, China Construction Bank announced that the bank held the 7th board meeting of 2024 on that day. The meeting was chaired by Chairman Ge Haijiao, with 14 directors supposed to attend, and 13 directors actually present. Vice Chairman and Executive Director Liu Jin did not attend the meeting due to other arrangements.
Born in 1967, Liu Jin began his career at the Industrial and Commercial Bank of China. He has held various positions including Vice Chairman of the Industrial and Commercial Bank of China Europe, Executive Director, General Manager and Managing Director of the Frankfurt branch, General Manager of the Investment Banking Department of the Industrial and Commercial Bank of China Head Office, and President of the Jiangsu branch.
In November 2019, Liu Jin was transferred from the position of Vice President of China Development Bank to become the President of Everbright Bank and Executive Director of Everbright Group. Starting from January 2021, he served as Deputy Secretary of the Party Committee, Vice Chairman, and Chairman of China Construction Bank.
On February 25, 2021, Liu Jin officially assumed his position at China Construction Bank, as the Deputy Secretary of the Party Committee, and the proposed Vice Chairman and Chairman. On March 16 of the same year, the board of China Construction Bank approved the appointment of Liu Jin as Chairman. His appointment was officially approved on April 26, and Liu Jin formally took office as Chairman.
It is worth noting that Liu Liange, the former China Construction Bank Chairman who previously worked with Liu Jin, was officially announced to have fallen from grace on March 31, 2023, on charges of receiving bribes totaling more than 121 million RMB.