{"id":10077,"date":"2023-11-06T07:25:42","date_gmt":"2023-11-06T07:25:42","guid":{"rendered":"https:\/\/infundpros.com\/business\/chinas-corruption-watchdog-investigates-former-icbc-banker-as-clampdown-continues\/"},"modified":"2023-11-06T07:25:43","modified_gmt":"2023-11-06T07:25:43","slug":"chinas-corruption-watchdog-investigates-former-icbc-banker-as-clampdown-continues","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=10077","title":{"rendered":"China\u2019s corruption watchdog investigates former ICBC banker as clampdown continues"},"content":{"rendered":"
\n

\n Editor\u2019s Note: Sign up for CNN\u2019s Meanwhile in China newsletter which explores what you need to know about the country\u2019s rise and how it impacts the world.\n<\/p>\n<\/p>\n

\n Zhang Hongli, a former senior executive at Industrial and Commercial Bank of China (ICBC), is being probed by China\u2019s top anti-corruption watchdog, in a sign of a continuing crackdown in the country\u2019s financial sector.\n <\/p>\n

\n In a brief statement on Saturday, the Central Commission for Discipline Inspection (CCDI) said Zhang was \u201csuspected of seriously violating rules and laws,\u201d a phrase that is commonly used to refer to corruption. It did not specify details.\n <\/p>\n

\n State-owned ICBC is one of China\u2019s \u201cBig Four\u201d banks and the world\u2019s largest lender by assets, according to S&P Global.\n <\/p>\n

\n From 2010 to 2018, Zhang served as senior executive vice president of the lender, which tapped him for his international experience and knowledge of global financial markets, according to company statements. Prior to joining ICBC, Zhang worked at Deutsche Bank and Goldman Sachs, where he held senior management roles.\n <\/p>\n

\n Zhang was a former member of ICBC\u2019s Communist Party committee, according to state-run news agency Xinhua. He left ICBC in 2018 after resigning for family reasons, according to a Hong Kong stock exchange filing at the time.\n <\/p>\n

\n Zhang is the latest former high-flying executive from China\u2019s banking sector to come under scrutiny by the CCDI. The clampdown has implicated Bao Fan, a star investment banker and tech dealmaker, who\u00a0went missing\u00a0in February. In May, Chinese state media reported that Bao had been in the custody of the anti-graft agency <\/strong>since his disappearance.\n <\/p>\n

\n So far this year, the commission has already investigated more than a dozen senior executives at the country\u2019s most important financial institutions, according to a previous CNN analysis of statements posted on\u00a0the CCDI\u2019s website.\n <\/p>\n

\n They include three top executives at the highest ranks of China\u2019s financial world, who have either been probed or charged, according to the commission.\n <\/p>\n

\n Analysts have told CNN that the crackdown represents an expansion of Chinese leader Xi Jinping\u2019s signature anti-corruption campaign, and a bid to further solidify his power.\n <\/p>\n

\n In April, Li Xiaopeng, the former\u00a0<\/strong>chairman of China Everbright Group \u2014 one of the country\u2019s oldest and largest state-owned financial conglomerates \u2014 was suspected of \u201cserious violations of law and discipline\u201d and subject to investigation, the commission\u00a0said.\n <\/p>\n

\n In October, Li was\u00a0expelled\u00a0from the Communist Party and\u00a0arrested\u00a0for allegedly taking bribes, according to Xinhua.\n <\/p>\n

\n In March, the commission opened\u00a0a similar probe\u00a0into Liu Liange, former chairman of state-owned\u00a0<\/strong>Bank of China, the country\u2019s fourth largest lender. Liu had resigned earlier <\/strong>in March citing \u201cwork adjustments,\u201d according to a filing by the bank.\n <\/p>\n

\n Liu was arrested\u00a0last month on suspicion of accepting bribes and illegally granting loans, according to\u00a0Xinhua.\n <\/p>\n

\n And in January, Wang Bin, who led state-owned giant China Life Insurance from 2018 to early 2022, was charged by national prosecutors with taking bribes and hiding overseas savings. He was first probed by the CCDI in January 2022.\n <\/p>\n

\n In September, Wang was\u00a0sentenced\u00a0to life in prison after a court found him guilty of taking tens of millions of dollars worth of bribes and concealing deposits to overseas bank accounts.\n <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Editor\u2019s Note: Sign up for CNN\u2019s Meanwhile in China newsletter which explores what you need to know about the country\u2019s rise and…<\/p>\n","protected":false},"author":1,"featured_media":10078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-10077","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\nChina\u2019s corruption watchdog investigates former ICBC banker as clampdown continues | inFundPros<\/title>\n<meta name=\"description\" content=\"Editor\u2019s Note: Sign up for CNN\u2019s Meanwhile in China newsletter which explores what you need to know about the country\u2019s rise and how it impacts the world.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=10077\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s corruption watchdog investigates former ICBC banker as clampdown continues | inFundPros\" \/>\n<meta property=\"og:description\" content=\"Editor\u2019s Note: Sign up for CNN\u2019s Meanwhile in China newsletter which explores what you need to know about the country\u2019s rise and how it impacts the world.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infundpros.com\/?p=10077\" \/>\n<meta property=\"og:site_name\" content=\"inFundPros\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-06T07:25:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-06T07:25:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/231106102336-zhang-hongli-file.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Press Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Press Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/infundpros.com\/?p=10077#article\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/?p=10077\"},\"author\":{\"name\":\"Press Room\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\"},\"headline\":\"China\u2019s corruption watchdog investigates former ICBC banker as clampdown continues\",\"datePublished\":\"2023-11-06T07:25:42+00:00\",\"dateModified\":\"2023-11-06T07:25:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/infundpros.com\/?p=10077\"},\"wordCount\":555,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/infundpros.com\/?p=10077#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/infundpros.com\/?p=10077\",\"url\":\"https:\/\/infundpros.com\/?p=10077\",\"name\":\"China\u2019s corruption watchdog investigates former ICBC banker as clampdown continues | inFundPros\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/#website\"},\"datePublished\":\"2023-11-06T07:25:42+00:00\",\"dateModified\":\"2023-11-06T07:25:43+00:00\",\"description\":\"Editor\u2019s Note: Sign up for CNN\u2019s Meanwhile in China newsletter which explores what you need to know about the country\u2019s rise and how it impacts the world.\",\"breadcrumb\":{\"@id\":\"https:\/\/infundpros.com\/?p=10077#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/infundpros.com\/?p=10077\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/infundpros.com\/?p=10077#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/infundpros.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"China\u2019s corruption watchdog investigates former ICBC banker as clampdown continues\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/infundpros.com\/#website\",\"url\":\"https:\/\/infundpros.com\/\",\"name\":\"Fintech Advance\",\"description\":\"Latest Finance and Tech News and Updates\",\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/infundpros.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/infundpros.com\/#organization\",\"name\":\"Fintech Advance\",\"url\":\"https:\/\/infundpros.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"width\":409,\"height\":70,\"caption\":\"Fintech Advance\"},\"image\":{\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\",\"name\":\"Press Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"caption\":\"Press Room\"},\"sameAs\":[\"https:\/\/infundpros.com\"],\"url\":\"https:\/\/infundpros.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"China\u2019s corruption watchdog investigates former ICBC banker as clampdown continues | inFundPros","description":"Editor\u2019s Note: Sign up for CNN\u2019s Meanwhile in China newsletter which explores what you need to know about the country\u2019s rise and how it impacts the world.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infundpros.com\/?p=10077","og_locale":"en_US","og_type":"article","og_title":"China\u2019s corruption watchdog investigates former ICBC banker as clampdown continues | inFundPros","og_description":"Editor\u2019s Note: Sign up for CNN\u2019s Meanwhile in China newsletter which explores what you need to know about the country\u2019s rise and how it impacts the world.","og_url":"https:\/\/infundpros.com\/?p=10077","og_site_name":"inFundPros","article_published_time":"2023-11-06T07:25:42+00:00","article_modified_time":"2023-11-06T07:25:43+00:00","og_image":[{"width":800,"height":450,"url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/231106102336-zhang-hongli-file.jpg","type":"image\/jpeg"}],"author":"Press Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Press Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/infundpros.com\/?p=10077#article","isPartOf":{"@id":"https:\/\/infundpros.com\/?p=10077"},"author":{"name":"Press Room","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff"},"headline":"China\u2019s corruption watchdog investigates former ICBC banker as clampdown continues","datePublished":"2023-11-06T07:25:42+00:00","dateModified":"2023-11-06T07:25:43+00:00","mainEntityOfPage":{"@id":"https:\/\/infundpros.com\/?p=10077"},"wordCount":555,"commentCount":0,"publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/infundpros.com\/?p=10077#respond"]}]},{"@type":"WebPage","@id":"https:\/\/infundpros.com\/?p=10077","url":"https:\/\/infundpros.com\/?p=10077","name":"China\u2019s corruption watchdog investigates former ICBC banker as clampdown continues | inFundPros","isPartOf":{"@id":"https:\/\/infundpros.com\/#website"},"datePublished":"2023-11-06T07:25:42+00:00","dateModified":"2023-11-06T07:25:43+00:00","description":"Editor\u2019s Note: Sign up for CNN\u2019s Meanwhile in China newsletter which explores what you need to know about the country\u2019s rise and how it impacts the world.","breadcrumb":{"@id":"https:\/\/infundpros.com\/?p=10077#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/infundpros.com\/?p=10077"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/infundpros.com\/?p=10077#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/infundpros.com\/"},{"@type":"ListItem","position":2,"name":"China\u2019s corruption watchdog investigates former ICBC banker as clampdown continues"}]},{"@type":"WebSite","@id":"https:\/\/infundpros.com\/#website","url":"https:\/\/infundpros.com\/","name":"Fintech Advance","description":"Latest Finance and Tech News and Updates","publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/infundpros.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/infundpros.com\/#organization","name":"Fintech Advance","url":"https:\/\/infundpros.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","width":409,"height":70,"caption":"Fintech Advance"},"image":{"@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff","name":"Press Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/person\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","caption":"Press Room"},"sameAs":["https:\/\/infundpros.com"],"url":"https:\/\/infundpros.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/10077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10077"}],"version-history":[{"count":1,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/10077\/revisions"}],"predecessor-version":[{"id":10079,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/10077\/revisions\/10079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/media\/10078"}],"wp:attachment":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}