The Board of Directors of China Merchants Holdings Company has announced the appointment of Mr. Li Xiaopeng and Mr. Hu Jianhua as Chairman and Vice Chairman of the Board and Mr. Wang Zhixian as Executive Director, with effect from 18 February 2016.

This announcement comes along with the resignation of Mr. Li Jianhong and Mr. Su Xingang as Chairman of the Board and Executive Director of the company respectively.

Mr. Li Xiaopeng was appointed as Vice Chairman and Executive Director of the Company on 25 August 2014. He is also the President and Director of China Merchants Group Limited. He graduated from the doctorate program of Wuhan University, majoring in finance and holds a Ph.D. in economics. He is a Senior Economist. Mr. Li is the Vice Chairman and a non-executive director of China Merchants Bank Co., Ltd., and the Chairman of China Merchants Energy Shipping Company Limited.  He is also concurrently acting as vice chairman of China Urban Financial Society and vice chairman of China Rural Financial Society.

Mr. Hu Jianhua is the Executive Vice President of China Merchants Group, the Chairman of each of China Merchants Logistics Group and Silk Road E-Merchants Company Limited, and the Vice Chairman of COFCO & CM GRAIN EXCHANGE Company Limited. He graduated from the Dalian University of Technology in the PRC with a Bachelor Degree in Port and Waterway Engineering. He then obtained his Master Degree in Construction Management at the University of Birmingham of the United Kingdom and his Doctor Degree in Business Administration at the University of South Australia. He is a Professorial Senior Engineer conferred by Ministry of Transport of China, a fellow member of the Hong Kong Institution of Engineers (FHKIE) and a fellow member of Institution of Civil Engineering Surveyors of the United Kingdom (FlnstCES) respectively. 

Mr. Wang Zhixian joined the company in July 1992 and is the Deputy General Manager of the Company. He graduated from Tianjin University, Shanghai Jiaotong University with a Master of Science. He obtained a master degree of Business Administration from Peking University. Mr. Wang has extensive management experience in port and shipping industry. Prior to joining the company, he worked in Hempel-Hai Hong Paint Company as sales manager. 

Mr. Li Xiaopeng said,

"Firstly, on behalf of the Board, I would like to express my deepest appreciation to Mr. Li Jianhong and Mr. Su Xingang for their noticeable contributions made during their terms of service. During his term of service, Mr. Li has successfully positioned the Company as a pioneer of the "One Belt, One Road" strategy promoted by China, the beneficiary of the establishment of Qianhai-Shekou Free Trade Zone, and a consolidator under the State-Owned Enterprise Reform, by capitalizing on his expertise on macro development and pursuing strategic directions. Having made investments in Kumport of Turkey and in Dalian Port, the Company has further enhanced its global ports network; while the merger of Sinotrans CSC Group into China Merchants Group would help in synergizing both parties' ports and logistics businesses in Pearl River Delta. The implementation of these long-term strategic measures has laid a solid foundation for the Company to transform itself from a Chinese leading ports investor, developer and operator into a world-class comprehensive port service provider. The Company was the second largest port operator across the globe in 2015 by delivering a container throughput of 83.45 million TEUs."

Mr Hu Jianhua, who was previously the Managing Director of the Company, said,

"Under the enormous support of the Board led by Mr. Li Jianhong in expanding its overseas business, the company has invested in, developed and operated in projects that are highly compatible with the maritime silk road advocated under China's "One Belt, One Road" strategy, and are well recognized by the countries in which these projects are situated in. With the further acceleration of its internationalization effort, the company's overseas business will play an even greater role in its leaping development going forward."

Mr. Li Xiaopeng added,

"Global economy is expected to see profound adjustments in 2016 with China continuing to be presented with challenges brought by the transformation of its economic structure and the deceleration of trade growth. At the same time, new opportunities for port investments will emerge with China's pursuance of the "One Belt, One Road" strategy, "State-Owned Enterprise Reform" and the establishment of "Free Trade Zone". Adhering to the strategic vision of becoming a world-class comprehensive port service provider, the company will continue to promote innovation and transformation in its business. By reinforcing the execution of strategies set, the Company will also strengthen its effort in optimizing and improving the quality of existing assets through scaling up of operations and building upon the opportunities offered by the "Internet plus" initiatives, in order to elevate efficiency and hence profitability, thereby facilitating its sustainable growth, creating core values, and, in turn, bringing better investment return to our shareholders."