Ex-Bank of China Chairman Expelled From Communist Party


The former chairman of the state-owned Bank of China has been expelled from China’s Communist Party, over claims of bribe-taking and illegal activities, it was announced on Saturday.

Liu Liange was accused of illegally granting loans and causing significant financial risks, the Central Commission for Discipline Inspection (CCDI) said in a statement on its website.

He also brought prohibited publications into the country and illegally took bribes and accepted entertainment at private clubs and ski resorts, said the commission, which is responsible for tackling corruption in the 97 million-member party.


Also on AF: China Exploiting Open Source RISC-V Chip Tech, Warn Senators


Liu, born in 1961, had been working in banking and finance institutions, including in the central People’s Bank of China and the Export-Import Bank of China, before he was promoted to become chairman of the Bank of China in 2019.

Liu resigned from that position in mid-March this year.

Two weeks later, state media reported that the CCDI had opened an investigation into him on suspicion of serious violations of party discipline and laws.

Fighting corruption to advance the party’s “self-revolution” has been a signature policy of President Xi Jinping since he became supreme leader in 2012.

Xi’s campaign against corruption is popular among a public fed up with widespread graft. It has also helped him consolidate power by replacing rivals with loyalists, analysts have said.


  • Reuters with additional editing by Sean O’Meara


Read more:

China Vows Anti-Corruption Crackdown on Financial Sector

Is China’s Defence Minister Under Arrest? – US Diplomat Asks

China Chip Fund Head Investigated for Corruption

China Makes First Arrest Over Fake News Generated by ChatGPT



Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

Recent Posts

Japan’s SLIM Moon Lander Sparks Back Into Life, Makes Contact

The probe unexpectedly survived a two-week lunar night after touching down on the lunar surface…

11 hours ago

Bitcoin Hits $57k, Posts Two-Year High as Big Players Wade In

The leading crypto coin has gained 32% in value so far in February, still riding…

13 hours ago

China-Wary Investors ‘Icing on Cake’ For Japan’s Nikkei

Nikkei heavyweights with a significant presence in China have seen mega rallies, especially in the…

15 hours ago

Tougher Penalties in China for Firms Understating Emissions

Emissions data fraud has been a big problem for China's carbon trading scheme, but State…

15 hours ago

AI Model Boosts Scientists’ Nuclear Fusion Energy Dream – IS

An artificial intelligence (AI) trained on previous experiments has been able to predict instabilities in…

16 hours ago

Nikkei Flatlines After Record Push, AI Optimism Lifts Hang Seng

Tokyo’s benchmark hit another record before retreating while China stocks rode the AI wave to…

17 hours ago