The National Financial Regulatory Administration (NFRA) has formally approved the qualification of Mr. Zhang Daoming as President of PICC Property and Casualty Company Limited (PICC P&C). The endorsement, received on 3 June 2026, confirms Zhang’s assumption of office retroactive to 2 June 2026.

Aged 50, Zhang holds an MBA and is a senior economist. In addition to his new role as President, he serves as an executive director and Responsible Financial Officer of PICC P&C, and is the non-executive director and chairperson of PICC Financial Services Company Limited.

Zhang’s career at PICC P&C spans strategic planning, market research, compliance, risk management, and provincial branch leadership in Zhejiang, Jiangxi, and Guangdong. He previously held positions as Assistant to the President, Vice President, and Temporary Responsible Officer, providing broad operational and regulatory expertise ahead of his current appointment.

The board of PICC P&C now comprises executive directors Zhang Daoming and Hu Wei, employee (non-executive) director Li Ling, and independent directors Cheng Fengchao, Wei Chenyang, Li Weibin, Qu Xiaobo, and Xue Shuang.