SHANGHAI (Reuters) – China’s ruling Communist Party has expelled the former president of state-run Bank of China from its ranks, accusing him of illegal activities and accepting bribes, the country’s top anti-corruption watchdog said on Saturday.
Liu Liange was accused of illegally granting loans and causing significant financial risks, the Central Commission for Discipline Inspection (CCDI) said in a statement published on its website.
He also brought banned publications into the country and illegally accepted bribes and entertainment at private clubs and ski resorts, said the commission, which is responsible for tackling corruption in the 97 million-member party.
Reuters could not immediately reach Liu for comment.
Liu, born in 1961, had worked in banking and financial institutions, including at the Central People’s Bank of China and the Export-Import Bank of China, before being promoted to president of the Bank of China in 2019.
Liu resigned from that position in mid-March of this year. Two weeks later, state media reported that the CCDI had opened an investigation against him on suspicion of serious violations of party discipline and the law.
Fighting corruption to boost the party’s “self-revolution” has been a signature policy of President Xi Jinping since he became the country’s supreme leader in 2012.
Xi’s anti-corruption campaign is popular among a public fed up with widespread chicanery. He has also helped him consolidate power by replacing his rivals with loyalists, according to analysts. (Shanghai editorial report. Edited in Spanish by Javier Leira)
Source: Ambito
