As per decisions of the State Council, Mr. ZHANG Qingsong was appointed as Chairman of CIC. Mr. PENG Chun no longer serves as Chairman of CIC.

Mr. PENG Chun endeavored to make disciplined innovation and performed duties with diligence during his tenure as Chairman. Under his leadership, CIC steadfastly pursued China’s unique path of financial development and actively contributed to the building of a nation with a strong financial sector, advancing Chinese modernization through our own high-quality growth. Mr. PENG championed systematic reforms in outbound investment, continuously innovated and developed the “Huijin Model”, enhanced the core competitiveness of CIC group companies, and safeguarded against various material risks. With these efforts, CIC has played a stronger role in facilitating national development by galvanizing resources and supporting economic development via management of state-owned financial capital.

We highly acknowledge and appreciate the outstanding contribution made by Mr. PENG Chun to building CIC into a first-class sovereign wealth fund, enhancing Central Huijin’s role as a fiduciary manager of state-owned financial capital under new circumstances, and promoting the high-quality development of CIC.