In recent years, the number of officials from the CCP’s banknote printing agency has been dismissed. (Image source: Adobe stoc)
[See China News on July 3, 2021]Chinese Communist PartyThe National Supervision Website of the Commission for Discipline Inspection announced on July 2 that ChinaMoney printing and coinageHe Lin, the former deputy secretary of the party committee and general manager of the head office, is suspected of serious violations of discipline and law, and is currently under investigation by relevant departments. He Lin had worked in the CCP’s currency printing and coinage institution for more than 30 years. When he fell, he had retired for nearly three years.
Public information shows that He Lin, 63, is a native of Pinglu, Shanxi.He started to work in the printing department of the Central Bank of the Communist Party of China in July 1989, and was promoted all the way from a staff member. In 1993, He Lin was promotedCentral bankDeputy Director of the Manager’s Office of the Printing Corporation.
From April 1995 to April 1996, He Lin was transferred to Shanghai Banknote Printing Factory as deputy director; in April 1996, he returned to the Central Bank of the Communist Party of China as deputy director of the bank’s agency service center, director of the infrastructure office, and agency service center. Director; from October 2003 to December 2013, he served as the deputy secretary and general manager of the China Banknote Printing and Minting Corporation; in December 2013, he served as the director of the Central Procurement Center of the Central Bank of the Communist Party of China; he was dismissed and retired in August 2018.
The above notification only listed He Lin’s resume, but he did not disclose the information involved in the case. China Banknote Printing and Minting Corporation is directly affiliated to the Central Bank of the Communist Party of China and is a large state-owned enterprise. Mainly engaged in RMB printing and casting, banknote paper, bank credit card research and production, special banknote printing and coinage machinery and banking equipment manufacturing, etc. The head office has 23 large and medium-sized enterprises under its jurisdiction.
Overseas reporters searched the Internet and found that the number of officials from the CCP’s money printing agency has been dismissed in recent years. Due to the particularity and confidentiality of the banknote printing industry, relevant information is rarely disclosed to the outside world. But last year, there was an accident with a banknote printing agency official. In January 2020, Gong Shiliang, secretary of the Party Committee and chairman of Zhongchao Guoding, a subsidiary of China Banknote Printing and Minting Corporation, was investigated on suspicion of taking bribes. After investigation, Gong Shiliang received bribes totaling 10.6 million yuan, 100,000 U.S. dollars, and related commemorative banknotes (coins). In August of the same year, Gong Shiliang was sentenced to 11 years in prison and fined 1.5 million yuan for the crime of bribery.
According to reports, Gong Shiliang was planted on reselling “financial specialty products.” China Banknote Guoding is a state-owned enterprise integrating R&D, manufacturing and sales of precious metal products and RMB derivatives, banknote identification and rating, banknotes and import and export trade. It enjoys absolute autonomy in the above fields. This means that everything from product pricing to business development and project undertaking can be decided by Gong Shiliang.
Where there is power, there is corruption. In the New Year of 2016, in order to obtain the right to sell a Chinese zodiac New Year’s bill in China Banknote Guoding, a coin investment company bribed Gong Shiliang 10 million yuan. Gong Shiliang will also provide assistance to some companies in contracting gold pledge sales and other services, and help some Jibi Collection Co., Ltd. use the sales channels of China Banknote Guoding to sell products.
In the special inspection by the Central Committee of the Communist Party of China at the end of 2015, the corruption derived from this “financial specialty” has been mentioned, saying that there are problems with “using currency issuance rights to engage in’private customization corruption’, as well as commemorative coins and special serial banknotes. “.
Three months after Gong Shiliang fell from the horse, his colleague, Dewey, the general manager of China Banknote Financial Services Technology Co., Ltd., also fell. The China Banknote Printing and Minting Corporation has more than 20 subsidiaries, including a large number of banknote printing mints, and monopolizes the banknote printing and minting industry. There are tens of thousands of people in the whole system, and the annual purchase amount is 10%. At around 100 million yuan, some people believe that the He Lin problem may lie in procurement.
The fall of the mysterious deputy secretary of the banknote printing company’s party committee also sparked speculation among netizens. On Sina Weibo, some netizens ridiculed: “Have you stole the money?”, “Have you printed more to get home?”, “Printed fake banknotes?”, “Maybe in order to be a model worker, he started working overtime alone and voluntarily during the holidays. “Machine”, “Well, it takes a long time to count the tons…”, “Brain open up”, “The printing press is turned on for five minutes a day, there should be no problem with a few hundred million in a year, right”, “Inflation Could it be that this kid is making trouble?”
Editor in charge: Yang Tianlong
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