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China Vanke Names Financial Veteran as President, CEO

Vanke reported a record annual sales of 530 billion yuan ($84 billion) in 2017 despite tightening regulatory control over the housing market. Photo: IC
Vanke reported a record annual sales of 530 billion yuan ($84 billion) in 2017 despite tightening regulatory control over the housing market. Photo: IC

Real-estate heavyweight China Vanke on Wednesday appointed financial veteran Zhu Jiusheng as its chief executive officer and president, the right hand of company Chairman Yu Liang.

The appointment of Zhu was unanimously approved by Vanke’s board, the Shenzhen-listed developer said in a statement.

Zhu, 49, has been the chairman of Vanke’s financial-services unit Shenzhen Vanke Financial Advisors Co. He joined Vanke in 2012 as a senior vice president and was named chairman of Vanke Financial in 2014. Previously, he worked 19 years at China Construction Bank, one of the country’s top state-owned banks, and rose to deputy president of the bank’s Shenzhen branch.

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