57 Chinese Bankers Barred from the Banking Sector for Life since Start of 2019

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Over 50 people have been barred from the Chinese banking sector for life since the start of 2019, with infractions in relation to real estate funding figuring prominently.

As of 8 August the China Banking and Insurance Regulatory Commission (CBIRC) had issued lifetime bans on working in the Chinese banking sector to 57 individuals, according to a report from Securities Daily.

CBIRC also imposed lifetime cancellations on the professional qualifications of 21 Chinese banking sector personnel.

Key reasons for penalties included illegal fundraising, real estate loans in breach of regulations, bribery and participation in fraudulent loans, with real-estate related infractions figuring most prominently.

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