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Mr. Hu, Wei was appointed President and Chief Executive Officer of Bank of China Limited, United States Branches (“BOC U.S.A.”), on April 16, 2022. As President and CEO, Mr. Hu is responsible for managing the bank’s operations across its United States branches, providing strategic, financial, and operational leadership for the New York, Queens, Chicago, and Los Angeles branches.
From December 2018 through March 2022, Mr. Hu served as an Executive Vice President of BOC U.S.A. Prior to joining BOC U.S.A., he held several management positions within Bank of China Group, including Assistant General Manager, Deputy General Manager at the Sydney Branch, and as the executive assistant to the then CEO and President of Bank of China Group.
Mr. Hu began his banking career in 2000 as a risk management specialist at the Bank of China Head Office Risk Management Department. Mr. Hu received a Ph.D. in Management from Central South University, majoring in Management Science and Engineering, and a Master’s in Economics from Central University of Finance and Economics, majoring in International Finance.
Q: You began your tenure as CGCC Chairman back in June. What interested you in taking on this leadership role at CGCC?
A: Throughout the past several years, I’ve had the great privilege of witnessing CGCC’s tremendous growth and its impact connecting the U.S.-China business communities at work. I’ve always wanted to become more involved in this diverse community and help strengthen the chamber’s meaningful work of creating value, generating economic growth, and enhancing cooperation among the U.S.-China business communities. In addition, there has been a fair amount of misinformation and miscommunication regarding the true benefits of U.S.-China trade and investment throughout the marketplace. As someone who has spent a good part of my career overseas, I take the responsibility quite seriously in offering a more accurate account of how both our countries have benefited significantly from each other over the last four decades. Yet, while there have been and will continue to be challenges along this journey, it is in the interests of our countries, our businesses, and our people to resolve and overcome as many obstacles as possible for the advancement of society as a whole.
Q: How would you define CGCC’s mission and purpose? As Chairman, what are your priorities for CGCC’s future?
A: The CGCC serves as a bridge between U.S.-China business communities. Some may view us just as a platform for business collaboration, but I believe we have gone far beyond that by providing opportunities to engage at every level of business, exchange perspectives on the industry, and cultivate mutual understanding on a personal level through our broad range of services and resources, helping define various modules of the new normal. Throughout history, the key to a more stable and stronger U.S.-China relationship has always been based on people-to-people interactions, which have enhanced trust, transparency, compromise, and mutual understanding.
In addition to our long-term goal of expanding our reach and offering the best services, throughout the past couple of months, we have connected with organizations that share our vision and goals, and have begun to work with them more closely. We continue to cultivate ties of friendship, create platforms for candid dialogue, and open windows for further collaboration between the U.S. and Chinese business communities.
Q.: You had the honor of presenting Dr. Henry A Kissinger with the 2023 Gala Lifetime Achievement Award in-person several weeks ago. What was your experience like getting to speak and interact with Dr. Kissinger, such an influential figure in the U.S.-China relationship?
A: It was my great honor to present the Lifetime Achievement Award to Dr. Kissinger in-person. This award recognizes his achievements as a trailblazer and lifelong contributor to U.S.-China relations. Over the past 40 years, Dr. Kissinger has stood as a pillar of inspiration in promoting trade cooperation and a staunch supporter of common prosperity in both countries. At age 99, he continues to provide his expertise and advice to businesses, organizations, and world leaders. Without his historic efforts paving the way for the normalization of relations between the two countries, I am not sure I would be sitting here today.
Q： In addition to your role as CGCC Chairman, you are also President & CEO of Bank of China U.S.A. How would you describe Bank of China U.S.A’s presence in the United States and its long and deep commitment to New York?
A: Bank of China is the oldest and largest Chinese bank in the United States, having first opened its doors in 1936 and reopened its New York branch in 1981. We are extremely proud of our history, and through steady growth, we have made significant contributions directly to local communities through investments in economic and job growth over the past turbulent century. Today, BOC U.S.A. has thoughtfully built up our presence and reputation on and off Wall Street, from east coast to west coast, with more than 86% of the credit portfolio extended to U.S.-based clients.
We are honored to have supported landmark projects such as One Vanderbilt and key infrastructure projects like the JFK Terminal One Upgrade. We have also put considerable resources and capital to fulfilling our responsibility as a corporate citizen by supporting local communities and charitable foundations that make an impactful difference improving the lives of everyday Americans. Our employee volunteerism, community lending, and charitable sponsorships will continue to grow coupled with our commitment to climate change and environmental sustainability. These are not just general principles or so-called industry buzzwords. We have taken considerable steps to put theory into action, moving from policy to execution, and our track record reflects this commitment to our employees, clients and the communities in which we proudly serve.