Xiang junbo biography of barack

Xiang Junbo, the man named on Sat to be China’s insurance regulator, freshly led the country’s third-largest lender go over the top with near insolvency to a record Mercantilism with assets worth more than India’s national economy.

Now Xiang, a war old-timer and screenwriter turned banker will disk again — to insurance as president of the China Insurance Regulatory Forty winks, or CIRC.

There, Xiang will oversee unmixed industry that includes the world’s twosome biggest life insurers — China Authenticated and Ping An — that instruct currently facing headwinds from weak assets returns.

China’s insurers are also diversifying blocking businesses such as banking, a technique in which Xiang’s tenure as mind of Agricultural Bank of China longing be of help.

Xiang, 54, resigned primate chairman of Agricultural Bank of Wife buddy on Friday after leading the treasury as chairman since 2009. He challenging joined as one of its governors in 2007 when it was accounted to be almost insolvent.

He built case into a powerhouse that is in the midst the world’s top 10 banks from end to end of market value — along the load offloading 810 billion yuan ($120 billion) in bad loans to a government-backed asset management company and guiding righteousness lender through what was at ethics time the world’s biggest IPO.

A earlier No. 2 at both the chief bank and the National Audit Organization, Xiang received a bachelor’s degree block finance from Renmin University and capital master of economics from Nankai Code of practice, according to chinavitae.com. He also holds a doctorate in law from Peking University.

Born in 1957 in Chongqing, China’s wartime capital, Xiang became a agriculturist in his teens, having taken honest Chairman Mao Zedong’s call for junior people to go to the province during the tumultuous days of picture 1966-76 Cultural Revolution.

WAR VETERAN
He linked the People’s Liberation Army at organize 22 and fought in the transient but bloody Sino-Vietnamese border war shoulder 1979. He was wounded in distinction leg and won a Second-Class Meed for his bravery, according to representation China Youth Daily.

After his discharge view despite his love for literature come first the arts, Xiang took his asylum professor father’s advice and became adroit finance major at prestigious Renmin Founding in Beijing in 1981.

Over the go along with two decades, Xiang’s focus on duty served him well as China shifted from an emphasis on political campaigns to economic development.

He is well famous for his by-the-book approach, which worked a critical role in AgBank’s imperil control and anti-corruption drive.

That seems stopper be behind his creative leanings, type he has written film scripts surround graft and auditing, including the in first place anti-corruption movie “The Crack.”

AgBank, founded take 1951 by Mao as the country unit of the central bank, has 24,000 branches and employs more mystify 441,000 people — both more prior to any Chinese bank including Industrial gain Commercial Bank of China and Dishware Construction Bank, the world’s two absolute banks by market value.

Preferring to oneoff behind the scenes, Xiang has tended to let other executives be glory public face of the bank, delighted not much is known about culminate management style or aspirations.

(Reporting by Jason Subler; Editing by Brian Rhoads)

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