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Thursday, November 26, 2020
Tags Corruption

Tag: Corruption

Minsheng Branch Head Fleeces Premium Clients of 3bn Using Forgeries

The head of a local Beijing branch of China Minsheng Bank is under investigation for the allegedly defrauding over 150 high-net worth clients of up to...

Senior Chinese Banking Official Investigated for Involvement in Loan Scandal

After disappearing abruptly from the public gaze last week, Chinese media reports have finally revealed the reason for senior banking regulator Yang Jiacai's absence from official...

China’s Banking Regulator At a Loss to Explain Absence of Senior Official

The conspicuous absence of one of the China Banking Regulatory Commission's top officials has raised eyebrows in the Chinese press, given the recent ousting...

CBRC Sets its Sights on Interbank Lending

China's banking regulator is taking aim at the use of the country's interbank lending market to engage in what it refers to as "regulatory arbitrage." Over the...

China’s Chief Insurance Regulator Investigated for Corruption

Chen Junbo, the party secretary of China's Insurance Regulatory Commission, has been placed under investigation by the Chinese authorities for serious breaches of duty. According...

SPD Denies Losing 160bn Yuan to Shell Companies in Chengdu

Shanghai Pudong Development Bank (SPD) has countered claims that the bank's Chengdu branch was defrauded of billions of yuan. Chinese media reports from early April claimed...

BComm Public Relations Exec Sentenced to 6 Years for Corruption

The People's Court of Shanghai's Pudong Development Zone has sentenced a former senior executive with Bank of Communications to 6 years jail for receiving...

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Structured Deposits of Chinese Banks See Record Drop of over 1 Trillion Yuan in October

Structured deposits at Chinese banks have posted a record monthly drop for 2020 in October after rising to unprecedented levels earlier in...

Ningbo Launches Trials of Blockchain-driven Insurance Claims System

The Zhejiang-province port city of Ningbo has kicked off trials for the use of blockchain technology to automate the processing of insurance...

PBOC Steps up Pressure on Chinese Payments Platforms with Doubling of Penalty Amounts

The Chinese central bank has heightened its scrutiny of the payments sector with a sharp increase in the value of penalties imposed...

China Construction Bank Withdraws from Digital Bond Issuance Due to “Over-excitement” in Cryptocurrency Circles

One of China's big six state-owned banks has withdrawn from plans to issue digital bonds in collaboration with a digital assets exchange...