The former head of one of China’s largest banks was arrested for corruption
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The Supreme People’s Procuratorate of the People’s Republic of China arrested the former chairman of the board of directors of Bank of China, Liu Liange, suspected of corruption, taking bribes and illegally issuing loans. The Chinese agency Xinhua writes about this.
The material says that the banker was detained several days earlier, but the details of the case are not disclosed. Suspicion of Liange began at the end of March 2023 after a statement by the Chinese Communist Party’s Central Commission for Discipline Inspection (CCDI).
This accusation was made even before serious anti-corruption campaigns in the country’s financial sector. According to CCDI, more than 30 largest government organizations came under suspicion.
Checks against the leadership of state corporations began shortly after the country re-elected Xi Jinping as head of China for a third term. A year ago, the head of the People’s Republic of China assured that he would control all types of financial activities.
Against this background, in the summer, China also faced a sudden increase in COVID-19 infections, as well as a drop in the yuan to a multi-year low.
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