This means that 83% of these banks in the province have problems.
A netizen comment describes what’s behind this situation: “Officials everywhere are in a nest of corruption.”
From 2021 to now, top bank leaders in Liaoning have been investigated one after another. Among them are Wang Zhongyin—chairman of the Liaoning Rural Credit Cooperative Association, Li Lin—the Liaoning Regulatory Bureau of the China Banking Regulatory Commission, and Liu Bo – chairman of Liaoning Financial Holding Group.
These executives all served as secretaries of the communist party committees of these organizations.
Those who were investigated include Li Ji— president of the Pingshan branch of Benxi Bank; Song Jialei, president of Benxi Bank; Niu Jiliang, president of Fuxin Rural Commercial Bank; Zhang Tao, president of the Mingshan branch of Benxi Commercial Bank; Deng Xiaoyu, president of the Kaiyuan Branch of Tieling Bank; Wang Debao, director of the Sanglin Credit Cooperative; Hu Fuli – director of the Shuncheng Rural Credit Cooperative Association; and Hong Changhai, deputy director of the Shuncheng Rural Credit Cooperative Association.
According to Apollo News, a representative at the China Banking and Insurance Regulatory Commission said on May 13 that since 2021, Liaoning had taken compulsory criminal measures against 63 top leaders of small and medium-sized banks.
These fallen bank executives have been involved in various issues, such as collusion between officials and business people, seeking unfair benefits, and guarding internal personnel.
Since the 19th National Congress of the Chinese Communist Party, the banking commission said that 630 cases had been filed within the commission, 83 persons have been retained, and 73 persons have been transferred to judicial agencies.
Beijing Youth Daily reported that these officials and executives have a significant influence on the financial system of Liaoning Province because they have cross positions in various banks, financial supervision departments, and financial platform companies. Their investigation is bound to draw a lot of attention.
Their banks have experienced sharp declines in profit margins and sharp increases in bad debt rates.
A mainland China netizen commented: “Officials everywhere are in a nest of corruption.”
Another said that the leaders of small and medium-sized banks in Liaoning were wiped out.
Besides Liaoning, executives in many other credit organizations in numerous provinces have also been found corrupt or involved in “corruption in a group.”