WUJIANG, China, July 5, 2016 /PRNewswire/ -- China Commercial Credit, Inc. (NASDAQ: CCCR) (the "Company"), a microcredit company providing loans and loan guarantees to small-to-medium sized enterprises, farmers and individuals, today announced that the Board of Directors of the Company (the "Board") has appointed Mr. Mingjie Zhao as a member of the Board, President and Chief Executive Officer, replacing Mr. Jinggen Ling, who resigned from the Board and as President and Chief Executive Officer of the Company for personal reasons on June 21, 2016.
Mr. Zhao, 53, is recognized as an individual with extensive knowledge and experience in corporate governance, operational management, and business development. Previously, Mr. Zhao served as General Manager of Hua Yang, Inc., a real estate developer based in New York between September 2011 and June 2016 and as a Senior Sales Manager at Hephaistos Building Supplies, Inc., a manufacturer and distributor of construction suppliers and materials based in New York, between April 2004 and May 2009. Mr. Zhao holds a MBA degree from the University of Bridgeport and B.S. degree from China Eastern Normal University.
Mr. Zhao commented, "I am honored and humbled to take up the torch and look forward to working closely with the Board and other senior management members to take the Company to the next level in years to come."
About China Commercial Credit, Inc.
Founded in 2008, China Commercial Credit, Inc. (the "Company") provides business loans and loan guarantee services to small-to-medium enterprises (SMEs), farmers and individuals in China's Jiangsu Province. Due to recent legislation and banking reform in China, these SMEs, farmers and individuals -- which historically had been excluded from borrowing funds from State-owned and commercial banks -- are now able to borrow money at competitive rates from microfinance lenders. More information about the Company can be found at http://www.chinacommercialcredit.com.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact:
Long Yi, CPA
Chief Financial Officer
Phone: +86 135 8480 2352
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SOURCE China Commercial Credit Inc.