Anti-graft probes position Chinese banks in tight spot

Chinese banks have been ordered to lend more, but fear anti-corruption investigations.

The recently announced results of anti-corruption investigations into the activity of major Chinese banks, have placed them between a rock and a hard place.

Evidence of corruption among top banking management and loans professionals is widespread, according to the Chinese government’s announcement on anti-corruption investigations, on February 24.

In particular, several cases were highlighted at leading Chinese state-owned policy bank, China Development Bank. In January 2021, Hu Huaibang, a former chairman of the bank was sentenced to life in prison due to corruption, and on January 26, the Chinese government announced that additionally, the bank’s former vice president, He Xinxiang, would be expelled from the Chinese Communist...

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