On November 18, CITIC Pacific appointed Zhang Jijing as its managing director. Chang Zhenming, who took chairman and chairman in April will focus on the post of chairman.
　　In October 2008, CITIC Pacific was reported to lose 15.5 billion HK dollars in investing in foreign exchange derivatives. Hearing the news, CITIC Group, parent company of CITIC Pacific, sent Zhang Jijing, who was then the group director and assistant to general manager to Hong Kong. This April, Zhang became the non-executive director of CITIC Pacific.
　　Zhang, 54, was born in Beijing. He got his bachelor degree in Hefei University of Technology and master degree in the Graduate School of the Chinese Academy of Social Sciences. In 1985 he joined in CITIC Group. During his 24 years in this company, he took the posts of deputy director of Overseas Investment Department and managing director of CITIC Australian Group.
　　Chang Zhenming said that he has worked with Zhang for many years and Zhang is the right person for this position. His abundant experience and outstanding leading ability could help CITIC Group implement the strategies of developing special steel, iron ore exploration and real estate. Chang was bullish on Zhang’s working experience in Australia, which was helpful for the company’s iron ore projects.