The president and vice chairman of state-owned China Construction Bank (CCB), Chang Zhenming, has resigned and is to join another important state investment group, the bank said Monday.
CCB said Chang will join the China International Trust and Investment Corp. (CITIC) "because of the needs of China's financial development and reforms."
The bank will appoint a replacement for his post shortly, it said.
CCB listed in Hong Kong last year, raising 8.0 billion dollars in one of the world's biggest initial public offerings in 2005.
The bank was the first of China's big four state-owned banks — which includes Bank of China, the Agricultural Bank of China and the Industrial and Commercial Bank of China — to list outside of the mainland.
