The board of China CITIC Bank Corporation Limited received the resignation on 17 April 2023 from Mr. Fang Heying (Mr. Fang), the President. Mr. Fang tendered his resignation from the position of the President due to work arrangement. According to relevant laws and regulations and the Articles of Association, the resignation of Mr. Fang takes effect from 17 April 2023.

Mr. Fang will remain in the positions of the secretary of the Party Committee, vice chairman of the Board, director, chairman and member of the Risk Management Committee of the Board, member of the Strategic and Sustainable Development Committee of the Board, and director of the Bank's controlled subsidiaries, CITIC International Financial Holdings Limited and CITIC Bank International Limited. The board appointed Mr. Liu Cheng (Mr. Liu), the deputy secretary of the Party Committee, director and executive vice president of the Bank, as the President, and he will officially take office on the date of the approval of his qualification as the President by the banking regulatory authority of China. The Board has designated Mr. Liu to perform the duties of the President before he officially takes office, from the effective date of Mr. Fang's resignation from the position of the President to the date of the approval of Mr. Liu's qualification for office as the President by the banking regulatory authority of China.

Mr. Liu Cheng, Chinese, was born in 1967. Mr. Liu is the deputy secretary of the Party committee, director and executive vice president of the Bank. Mr. Liu is concurrently a director of CITIC International Financial Holdings Limited, CNCB (Hong Kong) Investment Limited, and Asian Financial Cooperation Association (AFCA).

Mr. Liu was the chairman of the board of supervisors of the Bank from April 2018 to November 2021. He used to be a teacher of the Central College of Finance and Economics (now Central University of Finance and Economics), and had been working in the National Development and Reform Commission and the General Office of the State Council. Mr. Liu has rich experience in development, reform and finance.

Mr. Liu graduated from the Finance Department of the Central College of Finance and Economics, and the School of Finance at Renmin University of China. He obtained a bachelor's degree, a master's degree and a doctoral degree in economics and is a research fellow.