He Qing Appointed as Vice Mayor of Shanghai, Previously Facilitated Merger Between Guotai Junan and Haitong Securities

Deep News04-02

On March 31, the 29th meeting of the Standing Committee of the 16th Shanghai Municipal People's Congress decided to appoint He Qing as Vice Mayor of Shanghai. Born in 1972, He Qing has over 30 years of professional experience spanning the banking, insurance, and securities sectors. After 2015, he held positions at China Pacific Insurance and Guotai Junan. In November 2023, he was promoted to Secretary of the Party Committee and Director of the Shanghai State-owned Assets Supervision and Administration Commission. During his tenure at the Commission from 2023 to 2025, he promoted the deepening of reforms for Shanghai's state-owned enterprises. By 2025, the total assets of local state-owned enterprises in Shanghai reached 32.5 trillion yuan, with the total market capitalization of their controlled listed companies hitting 3.2 trillion yuan. He facilitated the merger between Guotai Junan and Haitong Securities. In 2025, the combined entity, Guotai Haitong, reported revenue of 631.07 billion yuan and a net profit attributable to the parent company of 278.09 billion yuan, with key indicators such as assets ranking first in the industry.

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