BOCOM International Trust Co., Ltd. has announced a significant leadership change. According to a recent company notice, based on resolutions from the first 2026 shareholders' meeting and the 30th meeting of the fifth board of directors, Director Xia Hualong has been appointed to act as chairman, while Zhang Wen has been removed from the chairman position. The company's 2025 annual report, released on April 30, already reflects this leadership transition. The report indicates that Xia Hualong, 58, holds a doctoral degree and previously served as Vice Dean of the School of Humanities and Economics at China University of Geosciences. His career at Bank of Communications includes roles as Senior Manager and Deputy General Manager of the Asset Custody Department, Vice President of the Asset Custody Business Center, Deputy General Manager of BOCOM Schroder Fund Management Co., Ltd., and General Manager of the Pension Finance Department.
This personnel adjustment follows the downfall of former Chairman Zhang Wen, who is under investigation for serious disciplinary and legal violations. According to disclosures from the Central Commission for Discipline Inspection supervision team at Bank of Communications and the Shanghai Municipal Commission for Supervision, Zhang Wen is undergoing disciplinary review and investigation.
Industry experts view the swift appointment as crucial for maintaining governance continuity at BOCOM International Trust, a key trust platform under Bank of Communications. The internal promotion of an experienced executive ensures strategic alignment with shareholders while avoiding leadership vacuum.
Established in June 1981 as Hubei International Trust and Investment Corporation, the company underwent restructuring and rebranding after Bank of Communications became a strategic investor in May 2007. Current shareholders include Bank of Communications (85% stake) and Hubei Communications Investment Group (15% stake).
The 2025 annual report shows the company achieved operating revenue of 1.476 billion yuan, up 5.73% year-over-year, with net profit attributable to shareholders reaching 809 million yuan, a 2.15% increase. Trust assets under management totaled approximately 730.6 billion yuan by end-2025, growing 10.8% annually. Asset allocation comprised 59.54% in financial assets at fair value, 23.37% in debt investments, and 12.49% in loans. By sector exposure, capital markets accounted for 28.72%, financial institutions 25.44%, and other sectors 19.58%.
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