Chen Siqing, former Chairman of the Bank of China (BOC) was recently appointed chairman of the Industrial and Commercial Bank of China (ICBC), according to Beijing Business Today.

Born in central China's Hunan Province in 1960, Chen graduated from the Zhongnan University of Economics and Law in 1982. He joined the BOC in 1990 and worked for its provincial branches in southeast China's Fujian Province and south China's Guangdong Province before becoming vice president of the BOC in 2008 and president in 2014. He was appointed chairman of the BOC in 2017.

Chen has pushed for human resources management reform and attached great importance to financial technology during his tenure as BOC chairman.

Chen will face a number of challenges as ICBC chairman, such as bad loans resulting from deleveraging of state-owned enterprises and competition from new business models driven by financial technology.