China Merchants Bank Approves Zhang Yong As Independent Director

China Merchants Bank (03968) said approval from the National Financial Regulatory Administration has cleared Zhang Yong to serve as an independent director, with his term effective from September 8 until the end of the bank's 13th board of directors, according to ETNet. The bank also adjusted board committee appointments from September 8. Zhang was named a member of the Strategic and Sustainable Development Committee and chairman of the Remuneration and Appraisal Committee, while Huang Yushan became a member of the Remuneration and Appraisal Committee and ceased to be its chairman. Zhang, 50, holds a doctorate in economics and has postdoctoral experience in theoretical economics. He is executive dean of the Dishi Lake Research Institute at Shanghai University of Finance and Economics, vice dean of the Dishi Lake Advanced Finance Institute, and also serves as a researcher at Fudan University's Shanghai Free Trade Zone Comprehensive Research Institute and as an independent director of Tianneng Power International (00819) and Hainan Bank.