China New Town Development appoints Fan Haibin as chairman

He was appointed to the board as part of the re-constitution of the composition of the board of directors of the company.

China New Town Development announced the appointment of Fan Haibin as chairman and non-executive director.

Mr Fan, 59, currently is the chief investment officer of China Development Bank (CDB) and the president of China Development Bank Capital Corperation (CDBC). Both CDB and CDBC are controlling shareholders of the company. Mr. Fan has an extensive experience in the energy investment and financial industry. From 1982 onwards, Mr. Fan worked for the Ministry of Water and Power, State Resources Investment Corporation and CDB. Mr. Fan has become the chief investment officer and the president of CDBC since November 2013. From 2010 to 2013, Mr. Fan was the chief appraisal officer of CDB. From 1994 to 2010, Mr. Fan had been working at, in chronological order, the Electricity Credit Bureau, First Project Appraisal Bureau, Shijiazhuang Branch, Hebi Branch, and Appraisal Management Bureau of CDB. Before joining CDB, Mr. Fan worked as director of project management division at State Resources Investment Corporation, according to a China New Town Development report.