At the end of 2025, following Yang Xilin's appointment as a Party committee member and the dissolution of the board of supervisors, Postal Savings Bank of China (PSBC) has undergone further management changes.
On December 23, it was learned that Lu Wei, President of CITIC Bank, is set to be transferred as a member of the Party leadership group of China Postal Group and is expected to concurrently serve as Party Secretary of PSBC. The current Party Secretary and President of PSBC, Liu Jianjun, has reached the retirement age of 60.
Lu Wei, a veteran of the "CITIC system," was officially appointed President of CITIC Bank just eight months ago.
Born in October 1971, Lu Wei holds a master's degree in accounting from Australia's Deakin University and is a certified accountant in China, Hong Kong, and Australia. He began his career at Beijing Youth Industrial Group.
Joining CITIC Bank in January 1997, Lu held various roles, including Assistant General Manager and Deputy General Manager of the Beijing Branch, Deputy General Manager (acting) and General Manager of the Financial Planning Department. In January 2017, he became CITIC Bank’s Board Secretary, later serving as Business Director in July 2019 and Vice President in April 2021. During this time, he also held concurrent roles such as Deputy Head of the Hong Kong Branch Preparatory Group, General Manager of the Asset-Liability Management Department, Deputy Head of the Altyn Bank Preparatory Group, and Party Secretary and President of the Shenzhen Branch.
In October 2022, Lu resigned as Vice President of CITIC Bank due to work adjustments and joined CITIC Trust. He became General Manager of CITIC Trust in March 2023 and Chairman in May 2024.
Earlier this year, former CITIC Bank President Liu Cheng was appointed Party Secretary of China Securities, and Lu returned to CITIC Bank as Deputy Party Secretary. On April 21, Lu’s appointment as President of CITIC Bank was officially approved.
PSBC’s current President, Liu Jianjun, is a 37-year banking veteran whose career can be summarized as "starting at China Construction Bank (CCB), flourishing at China Merchants Bank (CMB), and reaching new heights at PSBC."
Born in August 1965, Liu holds a master’s degree in economics from Dongbei University of Finance and Economics and is a senior economist. He joined CCB in 1988, serving as Deputy President of Weifang Branch, Deputy President of Jinan Branch, and President of Dezhou Branch.
In 2000, Liu joined CMB as Deputy President of Jinan Branch. In March 2004, he was transferred to CMB’s headquarters, holding roles such as General Manager of the Retail Banking Department, General Manager of Retail Integrated Management, Business Director, and Chairman of the Credit Card Center. In December 2013, he was promoted to Vice President of CMB and concurrently served as Board Secretary in July 2019.
After 21 years at CMB, Liu returned to a state-owned bank, joining China Postal Group as a Party leadership group member and Vice President in May 2021, while also serving as Deputy Party Secretary of PSBC. In August 2021, he became Executive Director and President of PSBC.
In April 2022, after former PSBC Party Secretary and Chairman Zhang Jinliang was transferred to CCB, Liu began acting as Chairman. Since then, PSBC’s Chairman and Party Secretary positions remained vacant for nearly three years.
In January 2025, Zheng Guoyu was elected Chairman of PSBC, with President Liu concurrently serving as Party Secretary.
On December 16, PSBC announced that its revised articles of association had been approved by the financial regulatory authority. The updated articles state that the Chairman and Party Secretary are generally held by one person, with one Deputy Party Secretary assisting in Party affairs. If necessary, the President (a Party member) may serve as Party Secretary, or a separate Party Secretary may be appointed.
Additionally, following the approval of the revised articles, PSBC abolished its board of supervisors, with the board’s audit committee assuming its responsibilities.
On December 12, PSBC’s Party committee held a meeting to discuss the implementation of the Central Economic Work Conference’s directives, chaired by then-Party Secretary and President Liu Jianjun.
The meeting emphasized maintaining stability while improving quality and efficiency, identifying key areas for PSBC’s 2026 strategy. It highlighted strengthening retail banking advantages, fostering a second growth curve, boosting consumer lending, optimizing financial resource allocation, enhancing fintech services, and accelerating risk management reforms.
Financially, as of September 2025, PSBC’s total assets reached RMB 18.61 trillion, up 8.90% year-on-year. In the first three quarters, PSBC reported a net profit of RMB 76.794 billion (+1.07%) and revenue of RMB 265.08 billion (+1.82%), with non-interest income surging 27.52% to RMB 31.481 billion.
At the mid-2025 earnings briefing, Liu Jianjun noted that banks must rely on capabilities—team, processes, and risk management—rather than resources to grow non-interest income. PSBC aims to transition from "relying on net interest margins" to "diversified value creation."
PSBC’s current executive team includes President Liu Jianjun, Vice Presidents Yao Hong, Xu Xueming, Du Chunye, and Niu Xinzhuang, Discipline Inspection Secretary Hu Jianpo, and Retail Business Director Liang Shidong.
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