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.
Forward-Looking Statements
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
Email: longyi@chinacommercialcredit.com
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SOURCE China Commercial Credit Inc.