CITIC Consumer Finance has received formal approval for the appointment of Fu Chengfeng (傅承鋒) as general manager, making him the third person to hold the position since the company was established. An experienced retail banking executive will now lead the business.
CITIC Consumer Finance formally announced the appointment of Fu Chengfeng (傅承鋒) as general manager after receiving approval from the Beijing Office of the National Financial Regulatory Administration. This makes him the third general manager since the company was established and establishes a clearly defined division of responsibilities between the chairman and general manager, with strategy and operations respectively assigned to each role.
Fu Chengfeng (傅承鋒) is from China CITIC Bank and spent many years handling retail lending and risk management at its head office and branches. At the Hangzhou branch, he expanded the retail wealth management business, while at the Yinchuan branch he launched a platform to support digitalization. His experience on the front line is seen as making him well suited to a leadership structure overseeing the business as a whole.
In August 2024, Li Rudong (李如東) was approved as chairman, establishing a structure that divides responsibility for strategic direction and day-to-day operations. Li Rudong (李如東) is also from China CITIC Bank and has expertise in fintech. The combination of the two executives is expected to generate synergies in areas including customer acquisition, risk management and the use of technology.
CITIC Consumer Finance focuses on the unsecured, fully online fixed-term loan product known as 有期貸, targeting inclusive finance for young people and new citizens. According to publicly available information, total assets stood at 13.337 billion yuan at the end of 2025, outstanding loans at 12.737 billion yuan, cumulative financing at 120 billion yuan and the number of users at more than 17 million.