On August 22, financial industry sources revealed that Liu Chenggang is expected to be appointed as Vice President of Bank of China, having previously served as Deputy Chief Executive and Chief Financial Officer of BOC Hong Kong.

It is understood that Liu Chenggang is a veteran of Bank of China, having joined the bank in 1994. He has served as General Manager of the Financial Management Department and Treasury, and General Manager of the Equity Investment and Comprehensive Business Management Department. In 2022, he joined BOC Hong Kong as Deputy Chief Executive and Chief Financial Officer.

BOC Hong Kong has praised Liu Chenggang for his extensive experience in financial management, treasury operations, and global markets business, noting his familiarity with the operational management of headquarters, branches, and various domestic and overseas institutions.

Liu Chenggang Expected to Assume Role as BOC Vice President with Rich Experience in Financial Management

Public records show that Liu Chenggang, male, is currently 52 years old. He holds a Master's degree in International Finance from Tsinghua University's PBC School of Finance and a Master's degree in Applied Finance from Macquarie University. He also holds qualifications as a Senior Accountant in China and a Chartered Financial Analyst (CFA) in the United States.

Reviewing his career trajectory, Liu Chenggang is indeed a Bank of China veteran, having joined BOC in 1994. He served as General Manager of the bank's Financial Management Department and Treasury, and worked in multiple departments at headquarters, as well as at the Macau Branch and Shenzhen Branch. Before joining BOC Hong Kong, he also served as General Manager of BOC's Equity Investment and Comprehensive Business Management Department.

Liu Chenggang joined BOC Hong Kong in 2022, subsequently serving as Deputy Chief Executive and Chief Financial Officer.

BOC Hong Kong has commended Liu Chenggang for his extensive experience in financial management, treasury operations, and global markets business, highlighting his familiarity with the operational management of headquarters, branches, and various domestic and overseas institutions.

Currently, Bank of China's official website shows that senior management members include Deputy Chairman, President, and Deputy Party Secretary Zhang Hui; Vice Presidents Cai Zhao, Wu Jian, and Yang Jun; Chief Risk Officer Zhao Rong; and Board Secretary and Company Secretary Zhuo Chengwen.

Emphasis on Balancing Deposit Scale with Cost Control, Dynamic Asset and Liability Management

During his tenure as Deputy Chief Executive and Chief Financial Officer of BOC Hong Kong, when discussing business performance, Liu Chenggang stated: "In 2024, we actively seized market interest rate cycle trends, dynamically managed assets and liabilities, and stabilized net interest margin performance. We captured opportunities from the recovery in investment markets and tourism to expand intermediate business income. Meanwhile, we prudently controlled operating costs and strengthened risk management."

He also emphasized that last year, with market interest rates maintained at relatively high levels, BOC Hong Kong balanced deposit scale with cost control, expanded its quality customer base, strengthened intra-group collaboration, and vigorously developed cross-border and payroll agency services, tapping into customer demands for settlement, custody, and treasury services. Customer deposits grew 8.8% to HK$2.72 trillion, with market share rising to 15.56%.

Regarding globalization, Liu Chenggang noted the proactive approach to seize opportunities from China's "new quality productive forces" development and trade exchanges in Southeast Asia. The bank strengthened cooperation with Hong Kong blue-chips, industry leaders, and financial institutions, serving the needs of large multinational corporations, Chinese enterprises "going global," and major local customers in Southeast Asia, enriching RMB application scenarios and enhancing comprehensive product service capabilities.

Additionally, he pointed out the importance of actively seizing opportunities when market interest rates are at relatively high levels, proactively managing assets and liabilities, expanding interest-earning asset scale, dynamically managing banking book investments, and improving bond investment returns.

Furthermore, Liu Chenggang emphasized attention to shareholder returns, stating: "We actively respond to investor demands and enhance shareholder return expectations, optimize capital resource allocation. The full-year dividend payout ratio for 2024 continued to rise, reaching 55%."

Regarding BOC Hong Kong's outlook for this year, he outlined three key areas: first, focusing on deposit cost control on the liability side; second, continuing to optimize structure on the asset side, seizing development opportunities in RMB, cross-border, and Southeast Asian businesses, while securing higher-level returns early in banking book bond investments; third, seizing opportunities from stock market recovery to deploy early, promoting growth in equity, insurance, and fund businesses to increase non-interest income contributions. The aim is to mitigate the impact of declining market interest rates on net interest margin and maintain relatively stable net interest income.

During his tenure as General Manager of BOC's Equity Investment and Comprehensive Business Management Department, he was deeply concerned with corporate operational management. He attended comprehensive business governance training sessions organized by the department and provided explanations on the preliminary analytical framework for group comprehensive business operations. Based on introducing the macroeconomic background and industry value, as well as comprehensive business practices and exploration, he analyzed the group's comprehensive business situation and existing problems, proposing work strategies for the next phase.