Thursday, October 29, 2020
Tags Corruption

Tag: Corruption

China’s Banking Regulator Issued Record Number of Fines in 2017

China's banking authority issued a record volume of fines in 2017, as newly appointed chair Guo Shuqing launched a crackdown on lenders amidst Beijing's...

Remove Revolving Door Between Financial Institutions and Regulators: People’s Daily

The flagship news publication of the Chinese Communist Party has published an editorial calling for the dismantling of the "revolving door" between financial institutions...

Huawei Sales Exec Detained Over Bribery Allegations

A senior sales executive from the world's biggest telecommunications equipment manufacturer has been placed under investigation by the Chinese authorities for bribery. Huawei has confirmed...

Ex-head of China’s Insurance Regulator Investigated for “Trading Power for Money and Sex”

Xiang Junbo, the former head of the China Insurance Regulatory Commission, has been officially expelled from both his government position and the Communist Party...

Former Guangfa Bank Chairman Sentenced to Life for Bribery, Firearms Possession

The Guangdong Supreme Court has upheld the life sentence issued to former chairman of Guangdong Development Bank (Guangfa) and former chairman of the Guangdong Provincial Financial Office Li...

Top Banking Regulator Under Investigation for Corruption

One of the senior-most figures in China's Banking Regulatory Commission is under investigation for his involvement with a Bank of Communications corruption scandal. On 23 May...

Bank of Communications Boosts Executive Remuneration

Remuneration growth for executives is heavily outpacing that for rank and file staff at one of China's biggest banks, with staff ousted for corruption amongst the chief...

Dongguan Securities IPO Scuppered by Bribery Allegations

The IPO of Dongguan Securities has run aground on bribery allegations involving the former vice-governor of Guangdong province. Established in 1988 with registered capital of 1.5...

New Details on China Minsheng 3bn Yuan Counterfeit Wealth Product Scandal

Further details have emerged in relation to the defrauding of high-end Beijing banking clients by the head of a China Minsheng branch who made use of...

Jiangxi Bank Lent 200bn Yuan to Fraudulent Borrowers

Jiangxi Bank has sustained heavy losses as a result of fraudulent loans taken with the provincial lender by multiple companies, capsizing hopes that it would emerge...

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Fake Digital Renminbi Wallets Have Already Emerged on the Chinese Market: Chinese Central Bank

Chinese regulators are already contending with the appearance of fake wallets for the statutory digital currency which is currently undergoing trial operation...

Jack Ma’s Ant Group Valued at over $313 Billion by IPO Pricing

The pricing for Ant Group's upcoming IPO in Hong Kong and Shanghai puts the value of the fintech giant at 2.1 trillion...

Yangtze River Delta Digital Financial Data Centre Will Issue Digital Renminbi

A new fintech institution launched in the eastern Chinese economic hub of the Yangtze River Delta will play a key infrastructure role...

Digital Renminbi Could Evolve into Global Currency: Ex-Bank of China Chief

Li Lihui (李礼辉), the former head of the Bank of China, believes that the development of the digital renminbi could pave the...