Former vice president of ICBC has a problem “this big”: the Chinese PC investigates him for corruption

2023-11-04 13:02:44

The investigations by “alleged corruption” In China they are a one-way route, with those sitting on the bench going from power to the dungeon without stops. Or with brief judicial stops, often secret. And this Saturday the one who added his name to that complicated destiny was Zhang Hongli, until 2018 vice president of ICBC, the Chinese banking giant that is also a star actor in the film of global finance.

In a brief statement, the Chinese CP noted that Zhang Hongli “he is being investigated by the Anti-Corruption Agency as suspected of serious violations of discipline and the law”. And that statement in the language used by Xi Jinping’s administration is usually synonymous with resolved issues.

Zhang was deputy director of the Industrial and Commercial Bank of China (ICBC) until 2018.

Zhang is the second banker to be put on the bench in a very short time, following former head of the CP and former president of the Bank of China, Liu Lian’ge, was arrested last month also on suspicion of corruption.

Liu Lian’ge, 62, had to resign from his banking positions in mid-October, was immediately removed from the CP power structure and was also indicated in a brief note that “he was under investigation for serious disciplinary and legal violations,” a tone similar to this saturday’s statement regarding zhang. “His case is in the prosecutor’s office for review and prosecution,” it was added then.

Liu Lian’ge was president of the Bank of China and a leading leader of the CP. He is another heavyweight who is in prison for corruption.

Since coming to power in 2012, President Xi Jinping has launched a harsh campaign once morest corruption among high-ranking officials in Chinese power. Those who applaud this initiative point out that it is an important feature that the administration descends as an example to the lower classes, favoring governance in a gigantic universe like China. But there are also those who see this anti-corruption policy as a tool that Xi uses to get rid of anyone he considers an adversary or an internal obstacle.

In addition to Zhang’s name spread this Saturday, and that of Liu Lian’ge, already in prison since last month, also fell Li Xiaopengformer head of the Chinese state giant China Everbright, specialized in asset management, also arrested last month for a corruption investigation.

And the powerful Central Commission for Discipline Inspection and Discipline Control of the Chinese Party also targeted Li Dongex subdirector general de China Energy Investment Corp, y a Du Zhaocaiformer deputy director of the General Administration of Sports of China.

AFP/HB

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