Zhang Enzhao, chairman of the China Construction Bank (CCB) has quit from the posts of CCB chairman and director out of personal reasons. CCB directorate meeting approved Zhang's resignation during a bank directorate meeting convened on Mar. 15.

Chang Zhenming, vice chairman and president of CCB, will exercises CCB chairman's functions and powers before the new chairman is elected. All the decision mentioned above will come into force on Mar. 16, 2005. Currently, in accordance with the requirement of CPC and State Council, CCB is carrying out an overall campaign to further perfect the corporate governance, accelerate the reform of management mechanism, and actively enhance the implementation of share-holding system, seeking stable and peaceful development in line with the development strategy.

By People's Daily Online