FINANCE

China’s Top Financial Regulator Taps Provincial Official

Published: Sep. 18, 2026 6:30 p.m. GMT+8

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Cai Dong

Cai Dong, an executive vice governor of Jilin province, has returned to the financial sector, joining the Communist Party committee of China’s top financial regulator, the National Financial Regulatory Administration (NFRA).

The regulator’s website showed Friday that Cai ranks second only to party committee chief Ding Xiangqun. Cai took up the post Sept. 10, Caixin learned from sources with knowledge of the matter.

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Cai Dong, former Jilin executive vice governor, joined the NFRA party committee as second-ranked member on Sept 10.
He fills the vacancy left by Zhou Liang, removed after a graft probe in March.
With 20 years at ICBC, then CDB and ABC, he is among provincial "financial governors" returning to finance.

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Who’s Who

Industrial and Commercial Bank of China Ltd.: Industrial and Commercial Bank of China Ltd. (ICBC) is a major Chinese bank where Cai Dong spent 20 years before moving to other financial roles. He later served at China Development Bank and Agricultural Bank of China, then became Jilin’s executive vice governor before returning to the financial regulator.

China Development Bank: China Development Bank (CDB) is a major Chinese policy bank. According to the article, Cai Dong joined CDB in 2016, and Huang Zhiqiang also recently joined it. CDB plays a key role in financing economic development.

Agricultural Bank of China Ltd.: Based on the article, Agricultural Bank of China Ltd. is mentioned only as Cai Dong's employer starting in 2019, before he became a Jilin vice governor. No further details about the bank are provided in the text.

China Investment Corp.: According to the article, China Investment Corp. (CIC) is a sovereign wealth fund. The text notes that former Shanghai Vice Mayor Wu Wei recently joined CIC, as part of a trend of "financial vice governors" returning to the financial system after provincial government experience. No other specific details about CIC are provided in the article.

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