Tuesday, September 14, 2021

"Several Senior Executives" From Chinese Banks Investigated And Arrested In Recent Weeks, Global Times Reports

That's because this week, the state-owned mouthpiece Global Times made the announcement that "Several senior executives of Chinese banks" had been "Put under investigation or arrested over recent weeks".

According to the Central Commission for Discipline Inspection, the regulatory scrutiny comes as China looks to fight against corruption in the financial sector.

Former Party chief and former head of the Guangzhou branch of CITIC Bank, Xie Hongru, was placed under investigation and former Party chief and former head of the Jiangsu branch of the Agricultural Bank of China, Gao Youqing, was expelled from the Party, the Global Times wrote.

He Xingxiang, deputy governor of China Development Bank, was also revealed to be under investigation, the report says.

Among the initiatives from the meeting were "Taking targeted steps to punish financial corruption".

This now makes "At least eight" executives from four state owned banks that have been investigated since the beginning of 2021.

The CCDI has filed 93 major financial corruption cases since 2017..


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