The board of directors of China New Economy Fund Limited announced that Ms. Xiao Ruimei ("Ms. Xiao") has been appointed as a non-executive Director with effect from 8 July 2022. Ms. Xiao, age 58, graduated from Renmin University of China with a Bachelor of Laws in 1985. Ms. Xiao received a Master of Business Administration from Guanghua School of Management in Peking University in 2003.

From 1999 to 2000, Ms. Xiao was a Senior Media Visiting Scholar at Guanghua School of Management, Peking University. Ms. Xiao was a visiting scholar at the School of International and Public Affairs, Columbia University, United States of America from 2017 to 2018. From 1985 to 2001, Ms. Xiao served as director and editorial board member of the Economic Department of China News Service.

From 2001 to 2011, Ms. Xiao was the founder, deputy editor, and vice president of Economic Observers, and vice chairman of Economic Observers Newspaper Company Limited. Since 2011, Ms. Xiao is the vice president of China Review News Agency. Ms. Xiao received the "China News Award" Critic Award in 1997.