On the afternoon of January 27, a Chinese shareholder bank with a market value of over 4 trillion yuan – Huaxia Bank, suddenly announced that its chairman, Li Mingji, had resigned.
The announcement stated that the board of directors of Huaxia Bank had received Li Mingji’s written resignation report. Due to personal reasons, Li Mingji resigned from his positions as chairman, executive director, and relevant committee member of the board of directors. His resignation took effect on January 24.
Until a new chairman is elected by the board of directors and approved by the China Banking and Insurance Regulatory Commission, Huaxia Bank’s executive director and president, Qu Gang, will temporarily assume the responsibilities of the chairman.
The announcement from Huaxia Bank did not follow the usual practice of expressing gratitude for Li Mingji’s contributions during his tenure.
It is worth noting that Li Mingji’s resignation occurred less than two months after he had been appointed as the chairman of Huaxia Bank for the ninth board term. On December 13, 2024, Huaxia Bank announced that Li Mingji had become the chairman of the ninth board of directors, with Zou Libin as the vice chairman.
According to reports from Caixin Media, on January 23, there were market rumors that Li Mingji had been taken away for investigation. At that time, Huaxia Bank responded by stating that they “did not have relevant information”.
Public records show that Li Mingji was born in January 1965 and is a senior economist. His career has been primarily in the field of finance with a state-owned background, holding various positions. He has been with Huaxia Bank for a relatively long time, from March 2017 until now, nearly 8 years.
Public records also indicate that Huaxia Bank was established in Beijing in October 1992, being one of the 12 joint-stock banks in China. In March 1995, Huaxia Bank underwent a joint-stock system transformation; in September 2003, it conducted its initial public offering and became the fifth listed bank in China. Financial data shows that as of the end of the third quarter of 2024, Huaxia Bank’s total assets amounted to 4345.642 billion yuan.