On October 26, Wang Qishan’s former secretary Tian Huiyu was arrested. (Image source: Composite image)
[See China October 29, 2022 News](See a comprehensive report by Chinese reporter Miao Wei) Half a year after the fall, ChinaChina Merchants BankFormer Party Secretary and President of China Merchants Bank Co., Ltd. (hereinafter referred to as China Merchants Bank)Tian HuiyuArrested.Before joining China Merchants Bank, Tian Huiyu worked in China Construction Bank for nearly 7 years.Wang Qishansecretary.
On October 26, the Supreme People’s Procuratorate of the Communist Party of China made a decision to arrest Tian Huiyu. The case is being further processed.
Mainland Caixin.com disclosed some details of Tian Huiyu’s case on October 26. The report pointed out that the most successful investment case promoted by Tian Huiyu during his tenure at China Merchants Bank was that China Merchants Bank’s wholly-owned subsidiary China Merchants Bank International Capital Co., Ltd. (hereinafter referred to as China Merchants Bank International) and related institutions participated in the Ningde Times New Energy Technology Co., Ltd. Co., Ltd. (hereinafter referred to as Ningde Times) had several rounds of capital increase before listing, and successfully reduced its holdings after listing, gaining huge benefits.
In May 2018, CATL issued a document detailing the process of multiple rounds of capital increase before listing, and CMB International and other “China Merchants Bank” figures were seen in the early stage.
According to the analysis of industry insiders, after the capital penetration of the “China Merchants Bank” of the Ningde era, many of them may come from the wealth management capital pool and related asset management products.
According to reports, Tian Huiyu, as the president of China Merchants Bank and also the chairman of China Merchants Bank International, personally participated in the early investment of Ningde era through wealth management, and made huge profits after the reduction of holdings. It is cited that this investment case was too successful and the amount was too horrifying. In the end, it caused a huge disaster and attracted the attention of the relevant departments.
On April 18 this year, China Merchants Bank issued the “Announcement on the Change of President”, agreeing to remove Tian Huiyu from the positions of president and director of China Merchants Bank. On April 22, it was officially notified that Tian Huiyu was under investigation. On the 8th of this month, he was expelled from the party and from public office.
The Central Commission for Discipline Inspection said in a double report that Tian Huiyu was not resolute and discounted on major decisions and deployments of the Central Committee of the Communist Party of China; he did not report personal matters in accordance with regulations; Linked with capital, relying on finance to eat finance; using power for personal gain, harming the public and private, abusing power to accumulate wealth, excessive greed, corruption of life, corruption of morality, etc.
According to public information, Tian Huiyu was born in December 1965, from Jinzhai, Anhui. Since 1998, he has successively worked in Trust and Investment Company of China Cinda Asset Management Company, Bank of Shanghai and China Construction Bank. Tian Huiyu joined China Merchants Bank in 2013 and soon took over as President, concurrently serving as Chairman of China Merchants Bank International and Chairman of China Merchants Bank International Capital Co., Ltd.
Different from other banks, the president of China Merchants Bank is both the secretary of the party committee and the president, and is essentially the head. Tian Huiyu has been in charge of China Merchants Bank for nine years. Before Tian Huiyu was sacked, China Merchants Bank had stepped on real estate companies such as Lei Hengda Group and China Fortune Land Development.
Mainland media once disclosed that Tian Huiyu had been cultivated by Wang Qishan. From 1989 to 1993, Wang Qishan served as the vice president of China Construction Bank. After a brief transfer to the central bank, he served as the president of China Construction Bank from 1994 to 1997. Tian Huiyu served as Wang Qishan’s secretary when he was in charge of CCB.
Many of Wang Qishan’s direct descendants were investigated. In addition to Tian Huiyu, Dong Hong, the former deputy head of the inspection team of the Central Committee of the Communist Party of China who had followed Wang Qishan for many years, was accused of taking bribes of more than 463 million yuan and was sentenced to death with reprieve. Jiang Chaoliang, another former secretary of Wang Qishan’s former Hubei Provincial Party Committee, was removed from his post, but not a member of the Central Committee, and returned to serve as an idler at the National People’s Congress last year. Ren Zhiqiang, a second-generation real estate developer who was “a teacher and a friend” with Wang Qishan, was sentenced to 18 years, sparking speculation that the relationship between Xi Jinping and Wang Qishan has changed.
Source: Watch China
Short URL for this article:
All rights reserved, any form of reproduction is subject to the authorization of China. It is strictly forbidden to create mirror websites.
[Honorary Member Wanted]Streams can merge into the sea, and small kindness can achieve great love. We sincerely solicit 10,000 honorary members from Chinese people all over the world: each honorary member only needs to pay a subscription fee every year to become an honorary member of the “Watch China” website. Provide independent and true key information, warn them in times of crisis, and save them from the great plague and other social crises.
