Bank, the "first" board meeting in spring

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The proverb "The whole year's work depends on a good start in the morning" has been thoroughly understood by banks.

In the first week after the holiday, commercial banks have started working at a rapid pace. As the saying goes, "It’s never too early to hold a meeting in spring." On February 27, 2026, Qingdao Rural Commercial Bank (Qingnong Commercial Bank) and Zhejiang Commercial Bank both announced board meetings on the same day. Not only did both banks appoint a "Chief Compliance Officer," but also reviewed and passed several important resolutions, sending a strong signal that compliance and risk management are being prioritized in the banking sector for the new year.

Qingnong Commercial Bank: President Yu Fengxing also appointed as Chief Compliance Officer

On February 27, Qingnong Commercial Bank held the 18th interim meeting of the fifth board of directors at its headquarters. The meeting was presided over by executive director and president Yu Fengxing (acting chairman), with all 11 directors present, and all resolutions passed unanimously.

The most important resolution passed at this meeting was "On the Appointment of Chief Compliance Officer." The board agreed to appoint Yu Fengxing as the concurrent Chief Compliance Officer of Qingnong Commercial Bank. Having the president personally take on the role of Chief Compliance Officer not only demonstrates the bank's high importance attached to compliance management but also implies integrating compliance work into the bank’s daily operations and strategic decision-making.

Zhejiang Commercial Bank: Lü Linhua appointed as Chief Compliance Officer

On the same day, Zhejiang Commercial Bank also held its first interim meeting of the seventh board of directors in 2026 using on-site and remote communication. Under the chairmanship of Director Chen Haiqiang, all 11 directors unanimously reviewed and passed three important resolutions, appointed key personnel, and comprehensively strengthened compliance and risk asset management.

The first was the appointment of senior management. The meeting passed "On the Appointment of Chief Compliance Officer of Zhejiang Commercial Bank," appointing Mr. Lü Linhua as the Chief Compliance Officer. The appointment will take effect after his qualifications as president are approved by the National Financial Regulatory Administration. Independent directors commented that Lü Linhua has extensive management experience and the procedure was legal and compliant.

In addition to personnel arrangements, Zhejiang Commercial Bank continues to work on institutional development. The meeting unanimously passed the resolution on "Zhejiang Commercial Bank Compliance Management Measures" and the resolution on revising "Measures for Identifying and Pursuing Responsibility for Zhejiang Commercial Bank Credit Risk Assets." The establishment and revision of these two systems mark a solid step forward for Zhejiang Commercial Bank in standardizing compliance management systems and tightening responsibility for credit risk assets.

It’s the right time for compliance construction

The year’s plan begins in spring. Qingnong Commercial Bank and Zhejiang Commercial Bank both held board meetings in early spring, focusing on the appointment of the "Chief Compliance Officer" and improving compliance systems — this is by no means a coincidence.

In today’s complex and volatile financial environment, preventing and resolving financial risks, and adhering to compliant and prudent operations have become the lifeline of high-quality development in the banking sector. The "early spring meetings" of both banks are not only a proactive response to regulatory requirements but also set a "compliance first" tone for stable development throughout the year.

It’s never too early to hold a meeting in spring; it's timely to build a defensive line. This "compliance spring breeze" in the banking sector may be the harbinger of healthy operation for the financial industry and markets.

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