ICBC Appoints President as Party Chief in Step Closer to Chairman Role

The Industrial and Commercial Bank of China Ltd. (ICBC), the world’s largest commercial lender by assets, has tapped its president Liao Lin to also serve as the bank’s party chief, marking another step closer for him to taking the helm as chairman.

Liao, who has served as ICBC’s president since 2021, was appointed to secretary of the bank’s party committee during a cadre-level meeting Saturday morning, the bank said in a statement published on its official WeChat account. Liao will replace Chen Siqing, who retired from the party secretary role after four and half years.