[NTD Beijing, April 24, 2022]Before the 20th National Congress of the Communist Party of China, the Beijing authorities speeded up their fight against “tiger”, and hit three “financial tigers” in one day, including Tian Huiyu, former secretary of the Party Committee and president of China Merchants Bank; Shenzhen Construction Bank Shenzhen Han Fenglin, former risk director of the city branch, and Jiang Yunming, deputy general manager of Fujian Financial Investment Company.
On the evening of April 22, the Central Commission for Discipline Inspection’s website separately reported that Tian Huiyu, Han Fenglin, and Jiang Yunming were investigated for serious violations of discipline and law.
According to “Securities Times”, Tian Huiyu and Jiang Yunming are alumni of Shanghai University of Finance and Economics, and Jiang has just been transferred from the chairman of Industrial Bank’s supervisory board to Fujian Jintou for just one month.
According to statistics from Shanghai’s “First Finance and Economics”, 14 senior bank executives have been investigated since the beginning of this year. Another statistics pointed out that as many as 37 people have been sacked in the entire financial system of mainland China.
The Securities Times said that this financial anti-corruption storm has entered a “deep water zone” and that “it’s not cool for people to go and investigate”, and resignation and retirement cannot guarantee peace. In addition, the scope of anti-corruption not only involves large and small financial institutions, but also goes deep into financial supervision departments, “should investigate thoroughly.”
The report also said that financial corruption “can easily induce or even exacerbate financial risks and affect the country’s financial security.”
On February 28 this year, the Deep Reform Commission of the Central Committee of the Communist Party of China issued a warning to intensify financial supervision, punish corruption in the financial sector, and investigate and punish those who violate discipline and law.
On February 26, the Central Commission for Discipline Inspection of the Communist Party of China completed an inspection of 25 financial institutions, saying they had “many outstanding problems.”
The problems identified in the inspection team’s report include “weak political construction” and “inadequate implementation” of the central spirit; weak awareness of preventing financial risks; prominent formalism, bureaucracy and extravagance; and weak leadership team building.
The report also pointed out that some institutions have not completely eliminated the influence of corrupt officials such as Lai Xiaomin.
Lai Xiaomin, former chairman of Huarong Asset Management Co., Ltd., a subsidiary of the Chinese Ministry of Finance, was sentenced to death in January last year for “bribery, embezzlement and bigamy” and was executed immediately. He was the first senior official to be executed since Xi Jinping came to power.
According to a report by The Epoch Times at the end of last year, as of December 8, 2021, at least 31 officials from the central financial institutions of the Communist Party of China have been investigated in the financial sector, far exceeding the “nearly 20” officials in 2020.
Current affairs commentator Lan Shu once told The Epoch Times that Xi Jinping is preparing for his third term, and at the 20th National Congress of the Communist Party of China, he will definitely promote his own ranks. The main reason for Xi Jinping to rectify the financial sector at this time is to protect the people he wants to promote.
Yuan Hongbing, a scholar in Australia, told The Epoch Times that the 20th National Congress of the Communist Party of China involves a major political struggle, and a large number of officials in the CCP’s financial system will be purged before that.
(Reporter Luo Tingting comprehensive report/responsible editor: Zhu Xinrui)
URL of this article: https://www.ntdtv.com/gb/2022/04/24/a103408676.html