FINANCE

PICC Names Former Policy Bank Chief Tan Jiong as New Party Chief

Published: Jul. 24, 2026 1:03 a.m. GMT+8

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Tan Jiong. Photo: VCG

Veteran banker Tan Jiong has been appointed Communist Party chief of the People’s Insurance Co. (Group) of China Ltd. (PICC), a move that paves the way for him to become chairman of the state-owned insurance giant.

The appointment, announced Thursday, ends a leadership vacancy of nearly two months following the departure of former Party chief Ding Xiangqun, who was named head of the National Financial Regulatory Administration in late May.

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Tan Jiong appointed PICC Party chief, ending vacancy, expected to become chairman.
Career includes roles at Bank of China, ICBC, Guizhou province, and China Development Bank.
PICC's 2025 assets topped 2 trillion yuan; net profit rose 8.8% to 46.6 billion yuan, with record dividends.

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Who’s Who

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What Happened When

1988：: Tan Jiong began his financial career at Bank of China Ltd.

2016：: Tan Jiong was appointed vice president of Industrial and Commercial Bank of China Ltd.

2019：: Tan Jiong served as a vice governor of Guizhou province with responsibility for financial affairs.

Early 2023：: Tan Jiong returned to the banking sector to head China Development Bank.

2025：: PICC reported record results for 2025, with total assets rising 14.8% to over 2 trillion yuan and net profit increasing 8.8% to 46.6 billion yuan.

Late May 2026：: Former Party chief Ding Xiangqun was named head of the National Financial Regulatory Administration, leaving a leadership vacancy at PICC.