A native of Shanghai, China, Xiang Hong graduated from the Shanghai Lixin University of Accounting and Finance. He later received a master's degree in business administration from the University of Rochester.
Xiang Hong began his banking career in 1986 as a credit officer at the Bank of China. In 1991, he joined the Pudong Development Bank as a corporate banking manager. He rose through the ranks and was named president of the bank in 2005. In 2008, he became chairman.
Under Xiang Hong's leadership, the Shanghai Pudong Development Bank has grown into one of the largest and most successful banks in China. The bank's assets have grown from ¥200 billion in 2005 to over ¥1 trillion today. The bank also offers a wide range of financial products and services, including loans, deposits, credit cards, and investment banking.
Xiang Hong is also active in the Chinese business community. He is a member of the Chinese People's Political Consultative Conference and the Shanghai Municipal Committee of the Chinese Communist Party. He is also a board member of several Chinese companies, including the Shanghai Automotive Industry Corporation and the China National Offshore Oil Corporation.
Xiang Hong is married with three children. He enjoys playing tennis and reading in his spare time.