Bank of Communications Co., Ltd. announced the board announced that the board has resolved to appoint Mr. Zhang Baojiang as the president of the Bank. According to the relevant laws and regulations, regulatory rules and the Articles of Association, the appointment of Mr. Zhang as the president of the Bank is subject to the approval of his qualification as the president of the Bank by National Administration of Financial Regulation (the NAFR). After Mr. Zhang's qualification as the president of the Bank is approved, Mr. Ren Deqi will no longer perform the duties of the president.

Bank of Communications Co., Ltd. Mr. Zhang Baojiang, born in 1970, Chinese nationality, senior economist. Mr. Zhang had worked for Agricultural Development Bank of China, serving as the Vice President of such bank, President of the Anhui Branch, Director of the General Office of the Head Office, Vice President of the Shaanxi Branch, Deputy General Manager (In Charge of Work) of the Policy Research Office, Deputy Director of the General Office and Deputy General Manager of the Research Office of the Head Office, etc. Mr. Zhang obtained a master's degree in Economics from the Graduate School of the Party School of the Central Committee of Communist Party of China in 1998 and a doctoral degree in Economics from the Graduate School of the Party School of the Central Committee of Communist Party of China in 2004.