A former top official at one of China’s largest state-run banks has been arrested for alleged bribery, state media reported Thursday, as Beijing cracks down on corruption in the country’s financial sector.
The case of Zhou Qingyu, a former vice president of the China Development Bank, “has been transferred… for examination and prosecution”, state news agency Xinhua reported, citing the country’s top prosecutor.
Zhou, 61, was under investigation for “taking bribes and using his influence to solicit bribes”, according to Xinhua.
A court in northeastern Jilin province “has taken the decision to make an arrest, and the case is being further handled”, the state news agency said.
China’s President Xi Jinping has waged a sweeping campaign against deep-seated official corruption since coming to power a decade ago.
Proponents say the policy promotes clean governance, while critics say it helps Xi purge political rivals.
Recently, the campaign has targeted some of the country’s top financiers.
Last month, Sun Deshun, the former president of the state-owned China Citic Bank, was sentenced to life in prison for illegally receiving property valued at over US$130 million.
The former vice chief of the Industrial and Commercial Bank of China and a onetime Bank of China chairman are among several others under investigation.
Dateline:
Beijing, China
Type of Story: News Service
Produced externally by an organization we trust to adhere to high journalistic standards.
Support HKFP | Policies & Ethics | Error/typo? | Contact Us | Newsletter | Transparency & Annual Report | Apps
Help safeguard press freedom & keep HKFP free for all readers by supporting our team
LATEST FROM HKFP
HKFP has an impartial stance, transparent funding, and balanced coverage guided by an Ethics Code and Corrections Policy.
Support press freedom & help us surpass 1,000 monthly Patrons: 100% independent, governed by an ethics code & not-for-profit.
