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Ex-Bank of China Chief Nabbed On Bribery Charges

Writer's picture: By The Financial DistrictBy The Financial District

The former chairman of the Bank of China has been arrested on suspicion of bribery and providing illegal loans, as reported by Derek Cai for BBC News.


Liu Liange, who served as the chairman of the state-owned bank from 2019 to 2023, resigned from his position in March of this year. I Photo: Yang Guanyu, Xinhua



Liu Liange, who served as the chairman of the state-owned bank from 2019 to 2023, resigned from his position in March of this year.


Several weeks later, authorities announced that Liu was facing corruption charges. The 62-year-old is one of the most senior bankers to be implicated in President Xi Jinping's anti-corruption probe into China's $60 trillion (£49 trillion) financial sector.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

The effort to eliminate corruption from the country's financial industry appears to be intensifying, with officials warning in April that the crackdown was far from over.


Several high-profile financial executives from state-owned banks have already faced fines, imprisonment, or are under investigation. For instance, the former chairman of China Life Insurance, Wang Bin, was sentenced to life in prison without parole for bribery.




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