On August 29, Industrial And Commercial Bank Of China Limited (601398.SH, 01398.HK, "ICBC") announced that Duan Hongtao has submitted his resignation to the board of directors due to position changes, stepping down from his roles as Deputy President, Board Secretary, and Company Secretary of the bank. His resignation took effect on the same day.

The announcement stated that Duan Hongtao confirmed there were no disagreements with the board of directors, nor any matters related to his resignation that required attention from shareholders or creditors. The relevant work transition has been completed smoothly. The ICBC board of directors expressed sincere gratitude for Duan Hongtao's contributions during his tenure.

According to public information, ICBC was established in January 1984 and was simultaneously listed on the Shanghai Stock Exchange and Hong Kong Stock Exchange in October 2006. The bank's main business covers RMB deposits and loans, international settlement, foreign exchange trading, and investment banking, among other areas. It has the largest asset scale and customer base in China.