New China Life Insurance Co. Ltd. has confirmed the election of Zhang Xiaodong as a non-executive director, following shareholder approval during a general meeting held on June 27.
His appointment is subject to regulatory review by the National Financial Regulatory Administration.
Once cleared by the regulator, Zhang will enter into a service contract with the company. His term will cover the remaining duration of the current eighth session of the board.
Zhang was nominated by China Baowu Steel Group Corporation Limited, which owns 12.09% of the company’s voting shares. His nomination was previously reviewed and approved by the board on June 12, 2025, during its thirty-fourth meeting under the current session.
Zhang currently serves as chairman of the board and party secretary of Hwabao (Shanghai) Equity Investment Co., Ltd. He also sits on the board of Shanxi Taigang Stainless Steel Co., Ltd. (TISCO), a listed company on the Shenzhen Stock Exchange. He previously held several executive and financial positions within the TISCO Group, including deputy chief accountant, supervisor, and head of accounting and finance. His other prior roles include general manager of TISCO (Tianjin) Financial Leasing Co., Ltd. and TISCO (Tianjin) Commercial Factoring Co., Ltd. He also worked with China Baowu Steel Group Corporation Limited as head of its Carbon Neutrality Fund Preparatory Group.
Zhang holds a master’s degree in business administration from Renmin University of China, obtained in 2014. He is a qualified senior accountant.
According to the company, Zhang has no equity interest in New China Life, holds no other roles within the company or its subsidiaries, and has no affiliation with any directors, senior management, or major shareholders. There are no other matters required to be disclosed under the listing rules of the Hong Kong Stock Exchange.
New China Life is a China-based company that operates primarily in the life insurance sector, offering products through three business segments: Traditional Insurance, Dividend Insurance, and Other Business. Its Traditional Insurance segment includes life, health, and accident coverage. The Dividend Insurance segment covers policies with dividend participation features. The Other Business segment comprises mainly universal life products.
In addition to insurance, the company maintains operations in health care and wealth management. Its health-related services cover personal health management, medical support, and travel health solutions. Wealth management activities include investment operations and capital management services.
New China Life’s operations are concentrated within the domestic Chinese market, where it provides a range of financial and personal services.
What are your thoughts on Zhang Xiaodong’s entry to New China Life’s board? Will this influence the company’s governance or direction? Join the conversation in the comments.
