Cui Wei steps down as Chairman of Oriental Fund, known as a "scholar-type official and mentor-like chairman"

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Source: Dongfang Fund, China Securities Journal, China Fund News, etc.

Chairman Cui Wei of Dongfang Fund has stepped down but will continue to serve as a director of the company.

On March 20, Dongfang Fund announced that, after approval by the board of directors, Cui Wei has resigned as chairman due to work adjustments, and General Manager Liu Hongpeng will take over as chairman.

Public information shows that Cui Wei holds a Ph.D. in Economics. His career began at the People’s Bank of China, and he has served in the China Securities Regulatory Commission system for many years. At the inception of China’s public fund industry, he participated in nearly all key meetings during the preparatory phase as a CSRC staff member, making him an early participant and witness of the industry.

Since December 2011, Cui Wei has served as Chairman of Dongfang Fund for over 14 years, making him one of the few industry leaders with more than a decade of tenure. He is respectfully called a “scholar-type official and mentor-type chairman.”

Additionally, Liu Hongpeng, who temporarily serves as chairman, previously worked as General Manager of Xinhua Securities Changchun Tongzijie Branch, General Manager of Northeast Securities Hangzhou Branch, Deputy General Manager of Marketing Management, and General Manager. He joined Dongfang Fund in May 2011, serving as Assistant to the General Manager, Deputy General Manager, General Manager, and Director, as well as a director of Dongfang Huizhi Asset Management Co., Ltd.

Dongfang Fund stated that this senior management adjustment is driven by the company’s long-term development needs, representing normal organizational improvements and ongoing talent pipeline optimization. The company’s established development strategy remains stable and continuous. During Cui Wei’s tenure as chairman, he worked diligently and responsibly, making significant contributions to strategic development, governance improvement, and stable operations, laying a solid foundation for the company’s long-term healthy growth. The company sincerely thanks him. After stepping down as chairman, Cui Wei will continue to serve as a director.

Public records show that Dongfang Fund is a well-established fund company with over 20 years of history. It was founded in June 2004 in Beijing. Currently, Northeast Securities holds 57.6% of the company’s shares as the controlling shareholder, with Hebei Guokong Capital and Bohai International Trust holding 24.3% and 8.1%, respectively. Additionally, three employee shareholding platforms collectively hold 10% of the shares.

In recent years, Dongfang Fund has attracted industry attention for its “counterattack” in scale growth and employee shareholding plans.

By the end of 2019, Dongfang Fund’s non-money market fund assets were still in the hundreds of millions, ranking in the middle to lower tier of the industry. Over the next five years, the scale grew rapidly, with growth rates ranking among the top in the industry for several consecutive years. In 2020, Dongfang Fund completed restructuring and implemented a core employee shareholding plan, establishing a long-term incentive and restraint mechanism. It is understood that the company’s management team is now stable, with most senior executives having served for over ten years.

After 22 years of development, this old public fund managed by a securities firm has become a trillion-yuan-level fund manager.

According to Wind data, as of the end of 2025, Dongfang Fund manages a total of 68 public funds, with total assets under management reaching 126.819 billion yuan, an increase of 13.99 billion yuan (12.40%) from the end of 2024. Among them, the non-money market fund assets amount to 109.621 billion yuan, up 16.037 billion yuan (17.14%) from 2024, ranking 46th in the industry.