In the morning of February 1, the headquarters of the Bank of Communications (BOCOM) convened an executive meeting. During the meeting, Deng Shengming, the Deputy Head of the Organization Department of the Central Committee of the CPC, declared the Central Committee’s decision on the adjustment of major responsible comrades of BOCOM. Comrade Peng Chun was appointed as the Secretary of the Party Committee of BOCOM and the Chairman of the Board of Directors. Comrade Niu Ximing was dismissed from the Secretary of the Party Committee of BOCOM and the Chairman of the Board of Directors. The appointment and dismissal of the Chairman of the Board of Directors and the Governor of BOCOM is governed by relevant laws and regulations and the articles of association.

In the meeting, it was pointed out that the adjustment of BOCOM’s main responsible comrades is made by the Central Committee after a holistic consideration and prudent research in accordance with the working requirements and the reality of the construction of BOCOM’s new leadership lineup. The BOCOM’s leadership lineup as well as cadres and staffs are required by the meeting to centralize their ideas and actions on the spirit of the Central Committee. Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, all members of BOCOM must maintain political integrity, think in big-picture terms, uphold the leadership core, and keep in alignment and adhere to “Four obedience” (That is: individuals should obey the party organization, the minority obey the majority, lower levels obey higher levels and party organizations at all levels and all membership obey the National Congress of the Party and Central Committee.). We should firmly safeguard General Secretary Xi Jinping’s core status in the CPC Central Committee and the Party, and always maintain a high degree of consistency with the CPC Central Committee, taking Xi Jinping as the core, in thoughts, politics and actions. We should take a clear-cut stand for politics, make efforts for reform and pursue development, unite together to do practical work and build a good image. We should consistently focus on the construction of the Party and implement every element of work put forward by the 19th CPC National Congress well and solidly and strive to create a new prospect and write a new chapter.

Since Comrade Niu Ximing worked as the Secretary of the Party Committee of BOCOM and the Chairman of the Board of Directors, he and other members in the leadership lineup, under the firm leadership of the CPC Central Committee and the State Council, led cadres and staffs of the bank to adhere to Deng Xiaoping Theory, “Three Representatives”, Scientific Outlook on Development and Xi Jinping’s Thought on Socialism with Chinese Characteristics for a New Era, firmly carried out the guidelines, policies and decisions and deployment on economic and financial work made by the CPC Central Committee and the State Council, self-consciously served the overall situation of socioeconomic development. We steadily upgraded the operation and management level, continued to deepen the reform, seriously implemented the main responsibility of strengthening Party discipline. They achieved prominent results by forging ahead actively and fought against various difficulties. These achievements are obtained under the correct leadership of the CPC Central Committee and the State Council, and through united struggle made by the BOCOM’s leadership lineup and all cadres and staffs in this system, and also from old comrades’ support and assistance, among which has efforts of Comrade Niu Ximing. The attendees extended their high respect and heartfelt thanks to Comrade Niu Ximing!

The newly appointed Secretary of the Party Committee of BOCOM—Comrade Peng Chun has been working at BOCOM for a long time. He possesses good political quality and has undertaken a variety of work tasks with plentiful practical experience. He knows well about how to operate and manage a bank and follows the bank’s rules. He is a man with clear thinking and thoughtful consideration. His personalities are steady and low-profile. He is strict with himself, while being kind to other colleagues. He actively maintains the solidarity among the leadership lineup. Therefore, he is suitable for the position.

Comrade Peng Chun expressed his full obedience and firm support to the decision. He will, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping as the core, rely closely on the concerted efforts of the Party Committee, rely on the coordination of different levels of leaders with same goals, and rely on pooled will and strength of all BOCOM’s members, and also reply on old comrades’ support and assistance. He will have a firm political stance and be loyal to the Party. He will be diligent and work hard to perform his due duties and won’t let down the expectation of all other members and won’t humiliate his mission. In coming years, he will keep low-profile and do practical work. After taking over the baton from Comrade Niu Ximing, he will lead every member of BOCOM to embark on a journey to draw up a blueprint and explore a brilliant future for BOCOM.

Comrade Niu Ximing also expressed his sincere support and firm determination to carry out the decision. He extended his thanks to all the support, understanding, cooperation and help offered by every member of the leadership, the Board of the Directors, the Board of Supervisors, the senior management and all cadres and staffs. He believes that under the leadership of Comrade Peng Chun, we can better implement various decisions and deployment of the CPC Central Committee with Comrade Xi Jinping as the core, accomplish a variety of work and tasks assigned by the Party and the State, and serve well the real economy. We can continue to maintain the steady development of BOCOM and make new contribution to the mission of building a moderately prosperous society in all aspects and deepening the all-round reform, and of fully implementing the rule of laws and fully strengthening Party discipline. 

The meeting was hosted by Comrade Niu Ximing. Relevant responsible comrades from the Organization Department of the Central Committee of the CPC were present at the meeting. The members of BOCOM’s leadership lineup and members of senior management, old comrades retired recently and main responsible persons of provincial braches, overseas branches (subsidiaries), subsidiaries, and direct lead institutions as well as the headquarters’ department responsible persons—all attended the meeting.