China New Economy Fund Limited announced that Mr. Huang Bin has been appointed as non-executive Director and the chairman of the Company with effect from 10 January 2022. Mr. Gu Xu has ceased to be the chairman of the Company with effect from 10 January 2022 but remains as the chief executive and an executive Director. Mr. Huang, is currently a director and general manager of CITIC International Assets Management Limited and CITIC Merchant Enterprise Management Limited, respectively, and has extensive professional experience in fund and asset management as well as investment banking and direct investments.