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Xu, born in 1969, previously served as vice president of Industrial and Commercial Bank of China Ltd, the world’s largest commercial lender by assets.
Wang served as president of CDB’s Jiangsu branch.
The appointments came after China’s week-long Communist Party Congress, a twice-a-decade event that cleared the way for changes in key government posts in 2023.
Meanwhile, Zhang Shaohui was appointed as vice president of the Export-Import Bank of China (EximBank), a separate statement released Monday by the China Banking and Insurance Regulatory Commission showed.
Zhang joined EximBank in 2003 and had previously worked at Bank of China Ltd.
