With the release of its interim results, market attention has turned to the operational performance and corporate governance of China Minsheng Banking Corp., Ltd. (600016). Public disclosures indicate that the voting rights of director Shi Yuzhu on the bank's board may have been reinstated as early as July this year, and by the end of June, the shares of Minsheng Bank held by his controlled entity, Shanghai Jiant Life Technology Co., had no outstanding pledges. On the personnel front, this report focuses on changes at the bank's headquarters, involving several deputy general managers across multiple departments, with a notable number of mid-level cadres being promoted.
Li Jingxin has stepped down from his role as chief manager at the head office's interbank business department. Li previously served as the branch manager of ICBC's Haidian West Sub-branch. After joining Minsheng Bank in 2017, he held successive roles including assistant to the president of the Beijing branch and concurrent president of the Zhongguancun sub-branch, deputy president of the Beijing branch, president of the Kunming branch, and president of the Shenzhen branch, before being transferred to the head office's interbank business department in 2025. Ding Mingwu, vice president of Minsheng Financial Leasing, has been transferred to the head office as a senior manager in the credit management department. Born in 1970 with bachelor's degrees in economics and law, Ding previously served as president of the Qiaokou sub-branch of the Wuhan branch, general manager of the transportation finance department at the Wuhan branch, assistant to the president of the head office's transportation finance business unit and regional marketing director for Central China, deputy general manager of the group customer finance department under the head office's corporate and investment banking business unit, and deputy general manager of the group finance business unit and strategic client department; he has been vice president and chief risk officer of Minsheng Financial Leasing since April 2022.
Su Jie, deputy general manager of the head office's party-mass work department, is proposed to take the role of deputy general manager of the personal finance department; she previously served as deputy secretary and then secretary of the head office's youth league committee. Liu Zhenzi, deputy director of the head office's office, will become deputy general manager of the party-mass work department. Liu Duo, deputy president of the Xining branch, is proposed to serve as deputy director of the head office's office; he previously held roles including head of the party publicity section at the head office and assistant to the president and then deputy president of the Xining branch. Ren Jian, deputy general manager of the head office's ecosystem finance department, is being transferred to serve as deputy president of the Shenzhen branch; he previously held roles including general manager of the small and micro enterprise finance department at the Hangzhou branch and assistant to the general manager of the ecosystem finance department.
In addition, several section chiefs at the head office have been promoted to department deputy general manager or branch deputy president roles: Lu Lichuan, section chief of the information technology department, is proposed to become deputy general manager of that department; he has previously served as director of the supply chain finance business unit and director of the user experience technology department at Minsheng Technology, and technical director of the head office's IT department. Hu Qiuyu, section chief of the private banking client operations centre under the wealth and private banking department, is proposed to become deputy general manager of that department; he previously served as deputy general manager of the wealth management department at the Hefei branch. Gao Yongjin, section chief of the transaction banking department, is proposed to become deputy general manager of that department; he previously served as general manager of the international business department at the Beijing branch. Du Huadong, section chief of the head office's office, is proposed to become deputy president of the Xining branch. Wang Bin, section chief of the credit management department, is proposed to become deputy president of the Xi'an branch.
For Minsheng Bank, this mid-level reorganisation is largely an internal rotation within its system. It is understood that the bank has established a dual-track development pathway of management and professional sequences, building a well-structured and tiered professional talent pool, allowing employees to choose between vertical advancement or horizontal diversified growth based on their strengths and career plans. For its management team, Minsheng Bank continues to optimise the age and professional mix of its executive ranks, increasing the use of talent with strong strategic execution, professional capability, leadership, and solid performance, strengthening the leadership of each institution and enhancing executive rotation and exchange across all levels to achieve the goals of serving strategy, configuring resources as needed, matching people to positions, and optimising structure.
As of the end of June 2026, the head office's total assets reached RMB 3.31 trillion, down RMB 21.68 billion from the end of the prior year, with the rate of decline slowing. The head office had 8,298 employees, down 4,027 from 12,325 at the end of 2025, mainly due to the localisation reform of its credit card centre. The bank noted that head office headcount includes all personnel outside branches, including department staff, credit card centre, and centralised operations. In the first half of this year, the bank implemented the integration of credit card sub-centres with branches, with merged staff counted under their respective branches; by the end of June, the credit card centre had 3,597 staff, compared to 7,619 at the end of 2025.
Beyond personnel changes, Minsheng Bank's headquarters will relocate to a new site. On 21 August, the bank's shareholders' meeting approved a proposal to change its registered address from "No. 2 Fuxingmen Nei Avenue, Xicheng District, Beijing, China" to "Building 1, No. 9 Jinhe Road, Chaoyang District, Beijing," with corresponding amendments to the company's articles of association. According to regulatory requirements, the address change must be approved by the National Financial Regulatory Administration and then registered with the market supervision authorities. Public data shows that Minsheng Bank was formally established in 1996, with its headquarters located at No. 2 Fuxingmen Nei Avenue in the Xicheng financial district, where it has remained for three consecutive decades. The bank's new headquarters building is situated in Beijing's central business district; the land was acquired in 2010, construction began in 2022, and by May 2026 the "China Minsheng Bank" sign had been installed, with operations expected to begin in the second half of the year.
Operational performance continues to diverge, with no clear inflection point yet. In the first half of 2026, Minsheng Bank reported operating revenue of RMB 75.17 billion, up 3.84% year-on-year, but net profit attributable to shareholders fell 8.62% to RMB 19.54 billion. The divergence between revenue growth and profit decline mainly stems from asset quality pressure and credit costs. In the first half, the bank's credit impairment losses reached RMB 31.46 billion, up 20.81% year-on-year, with loan impairment losses at RMB 29.36 billion, up 25.20%. In terms of asset scale, by the end of June, the bank's total assets stood at RMB 7.79 trillion, down RMB 38.04 billion from the end of the prior year, marking a rare contraction. In its interim results, Minsheng Bank stated it will continue to firmly abandon crude expansion-style growth, focus on refined development centred on customer value, asset quality, and profitability efficiency, shifting from "scale expansion" to "quality and efficiency first," pursuing an intensive growth path.
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