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China's AGM Group appoints new board chairman

Chinese financial technology company AGM Group Holdings Inc. appointed Bin Cao a director and the chairman of its supervisory board, effective May 20.

Cao, who will receive an annual compensation of $180,000, replaces Zhentao Jiang in the roles.

AGM Group will also cancel 7,400,000 shares beneficially held by Jiang in the company, as a result of his resignation.