The national financial regulatory authority has officially welcomed a new deputy head. On September 20th, the State Council announced the appointment of Cai Dong as Deputy Head of the National Financial Regulatory Administration.

Currently, the administration has updated its leadership information, confirming Cai Dong now serves as a member of the Party Committee and Deputy Head, with his ranking directly after the Party Secretary and Head, Ding Xiangqun. Born in October 1968, Cai Dong previously held the position of Standing Committee Member of the Jilin Provincial Party Committee and Executive Vice Governor of the province. He earned his doctorate in economics from the Research Institute for Fiscal Science under the Ministry of Finance and began his career at Shandong Normal University.

Before taking on his role as a "financial vice governor," Cai Dong spent many years working in the banking sector. Reviewing his banking career, he had an extensive tenure at Industrial and Commercial Bank of China, where he served as Deputy General Manager of the Accounting and Settlement Department, Deputy General Manager of the Settlement and Cash Management Department, Deputy General Manager and then General Manager of the Electronic Banking Department, and also as President of the Tianjin Branch. In July 2016, he was appointed as Vice President of China Development Bank.

In April 2019, Agricultural Bank of China appointed Cai Dong as Vice President. Just six months later, in October of that year, the Standing Committee of the 15th Jilin Provincial People's Congress decided to appoint him as Vice Governor of Jilin Province. By June 2022, Cai Dong had been named a Standing Committee Member of the Jilin Provincial Party Committee, Executive Vice Governor, and Deputy Party Secretary of the Provincial Government.

In March of this year, Zhou Liang, who had been a member of the Party Committee and Deputy Head of the financial regulation body, was placed under investigation, leaving the position vacant. The leadership team of the National Financial Regulatory Administration now consists of Party Secretary and Head Ding Xiangqun, Deputy Heads Cai Dong, Xiao Yuanqi, Cong Lin, and Fu Wanjun, who are also Party Committee members, and Yang Guorui, who serves as a member of the Party Committee and head of the discipline inspection group.