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Huishang Bank chairman steps down; successor named

Li Hongming has stepped down as chairman and executive director of Huishang Bank Corp. Ltd., citing a change of work.

The move is effective upon delivery of his resignation letter to the board, according to a Dec. 12 release.

In connection with the departure, the board has elected Wu Xuemin as chairman, subject to regulatory approval. As a result, Wu stepped down as the bank's president, but will retain his duties until a successor is named.