China Renaissance appoints new independent non-executive director, marking a full-scale entry into the digital currency sector

According to Jinse Finance, China Renaissance Holdings Limited (stock code: 1911) has issued two announcements regarding personnel changes and major business strategies. On the personnel front, with board approval, Mr. Frank Fu Kan has been appointed as an independent non-executive director, as well as a member of the company’s Audit Committee, Remuneration Committee, and Nomination Committee. Ms. Chen Jiali has been appointed as an independent non-executive director, Chair of the Audit Committee, and a member of the Nomination Committee. Meanwhile, the board has announced that while consolidating its existing business, China Renaissance will enter the WEB 3.0 and digital asset sectors. The board has approved a total budget of USD 100 million over the next two years for the development of WEB 3.0 business and investment in digital currency assets. At the same time, the company will increase its investment and development efforts in stablecoins, RWA (real-world assets), and the entire digital asset ecosystem, and will actively pursue the application and upgrading of relevant business licenses.