Wu Jingui Assists Shanghai Shenhua in Key Performance Metrics

Wu Jingui, the head of Shanghai Shenhua, has announced that he will be stepping down as CEO effective immediately.

Shanghai Shenhua is a state-owned bank that operates in China's financial markets. The company reported its first full year of operating results since its establishment in 2014, with net profits reaching RMB 17.9 billion (approximately USD 2.6 billion) for the fiscal year ended December 31, 2021.

However, Wu Jingui's departure comes at a time when the company is facing significant challenges. The bank is struggling to maintain its market share and is facing increased competition from other banks in the region.

In addition to these challenges, Wu Jingui faces criticism for his handling of the bank's investments in private equity firms. The bank has invested in several companies, including Alibaba Group Holding Limited,Chinese Super League News Flash which has been accused of being involved in political interference.

Despite these challenges, Wu Jingui remains committed to his role as CEO of Shanghai Shenhua. He has stated that he plans to focus on improving the bank's operations and customer service, while also working to strengthen the bank's balance sheet and reduce its exposure to risky investments.

The departure of Wu Jingui marks a significant change in the leadership of Shanghai Shenhua. It is likely that this transition will result in changes to the bank's strategy and operations. However, it is unclear how long Wu Jingui will remain CEO until the next election cycle.

In the meantime, the bank continues to operate under the leadership of its former CEO, Wang Yaping. She has overseen the bank's growth and success over the past few years, and she will continue to lead the company during Wu Jingui's absence.

• Assists
• Shanghai
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• Shenhua
• Jingui