China Merchants Bank Co., Ltd. (CM Bank) announced that the National Financial Regulatory Administration has approved the appointment of Dr. Zhang Yong as an independent non-executive director. Zhang’s tenure commenced on 8 September 2026 and will run through the remainder of the bank’s 13th Board session.

Zhang Yong, born in November 1975, holds a PhD in economics and completed post-doctoral research in theoretical economics. He is currently Executive Dean of the Dishui Lake Research Institute and Deputy Dean of the Dishui Lake Advanced Finance Institute at Shanghai University of Finance and Economics. He also serves as an independent director at Tianneng Power International Limited and Bank of Hainan Co., Ltd., among other academic and corporate roles.

Concurrent with his board entry, CM Bank has realigned its specialized committees: • Strategy and Sustainable Development Committee – Zhang Yong joins as a member. • Remuneration and Appraisal Committee – Zhang Yong becomes chairman, while incumbent Wong Yuk Shan remains on the committee as a member after relinquishing the chairmanship.

The bank’s board now comprises two executive directors, seven non-executive shareholder directors, and six independent non-executive directors, including Zhang Yong.