Beijing, 7 Jul (ZXS) -- China continues to crack down on financial corruption with a heavy fist
Written by Zhang Su Xie Yanbing
Playing "tiger" non-stop on weekends. On the 15th, Chinese officials announced that Tang Shuangning, former secretary of the party committee and chairman of China Everbright Group Co., Ltd., was suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision and investigation by the Central Commission for Discipline Inspection and the State Supervision Commission. Some commentators believe that the official fight against the financial "tiger" again shows the determination to continue to crack down on financial corruption.
Since 2021, many people have fallen from the "Everbright Department"
From June 2007, when he served as chairman and party secretary of China Everbright (Group) Corporation, until his retirement in December 6, Tang Shuangning's "Everbright" career spanned 2017 years. And Li Xiaopeng, who succeeded him as party secretary and chairman of China Everbright Group Co., Ltd. at the end of 12, was also investigated after retirement.
According to incomplete statistics, including these two "tigers", more than ten executives of the "Everbright Department" have fallen since 2021. Among them, Chen Shuang, former party secretary and chief executive officer of China Everbright Holdings Co., Ltd., and Zhang Huayu, former deputy party secretary and vice president of China Everbright Bank, were investigated several years after their resignations.
Zhou Jiangtao, former party secretary and president of China Everbright Bank's Nanning branch, who has been expelled from the party and public office, fell from office. He was accused of "illegally approving large loans and causing heavy losses" and "taking advantage of his position, embezzling public funds, and suspected of corruption."
It is worth noting that with the approval of the CPC Central Committee, the first round of inspections of the 6th Central Committee carried out inspections of the Party Committee of China Everbright Group Co., Ltd. to "look back". According to the arrangement, the central inspection team worked in the Everbright Group for about two and a half months, and the inspection group accepted letters and petitions until June 20 this year.
On June 6, Everbright Group held an all-staff warning education conference and the kick-off meeting of the 8 Disciplinary Law Education Month. At the meeting, the group was briefed on a number of serious cases of violation of law and discipline that the group had recently investigated and handled, and pointed out that the situation of the group's systematic anti-corruption struggle is still grim and complicated, and the task of "clearing the stock and curbing the increase" of corruption cases is heavy.
A number of long-term cadres in the financial sector were investigated
Since the beginning of this year, a number of central management cadres who have been working in the financial field for a long time have been investigated one after another. Among them, Liu Liange, former secretary of the Party Committee and chairman of the Bank of China, became the first former "number one" of a central management financial enterprise to fall after the 20th National Congress of the Communist Party of China. He has worked in People's Bank of China for nearly 11 years and the Export-Import Bank of China for over 2018 years before transferring to Bank of China in June 6.
In May, officials announced that Zhou Qingyu, former party committee member and vice president of the China Development Bank, had been investigated. He worked for the Agricultural Bank of China for nearly 5 years before moving to China Development Bank in 10. Zhu Congjiu, a member of the leading party group and vice chairman of the Zhejiang Provincial Committee of the Chinese People's Political Consultative Conference, who was also officially announced in May, has worked in the securities regulatory system for nearly 2011 years.
Since the beginning of this year, quite a few cadres of party and state organs, state-owned enterprises and financial units have been investigated in the financial system. Just this month, officials reported that Zhang Jianjun, former party secretary and president of the Shenzhen central branch People's Bank of China had been investigated.
Qu Jishan, head of the discipline inspection and supervision team of the Central Commission for Discipline Inspection and the State Supervision Commission stationed in People's Bank of China, previously wrote that it is necessary to "promote the 'three non-corruption' (do not dare to be corrupt, cannot be corrupted, and do not want to be corrupt) as one, and at the same time, exert force, work in the same direction, and make comprehensive efforts to fight the battle against corruption in the financial sector." He said that to maintain the overwhelming force against financial corruption, first of all, all cases must be investigated and corruption must be punished.
Some observers said that judging from the party discipline and government sanctions notices against a number of senior executives of the fallen banks, there was a high incidence of corruption in the credit approval process. This is due to both personal subjective factors, subject responsibility and supervision responsibility that are not effectively implemented, as well as factors such as system and environment.
Regarding the institutional loopholes, integrity risk points and weak links in supervision exposed by corruption cases, Fan Dazhi, head of the discipline inspection and supervision team of the Central Commission for Discipline Inspection and the State Supervision Commission in the China Securities Regulatory Commission, wrote that it is necessary to "strengthen the supervision and management of key posts and key personnel, increase the supervision and inspection of the operation of high-risk public powers such as examination and approval, supervision, and information system procurement, continuously enhance transparency, and eradicate the soil conditions for corruption breeding from the source."
Coordinate and promote financial anti-corruption and risk prevention and control
The problem of corruption in the financial sector touches on financial risks and affects the whole body. China Discipline Inspection and Supervision magazine recently published an article entitled "Eliminating Hidden Dangers and Coordinating and Promoting Financial Anti-Corruption and Risk Prevention and Control", introducing Jiangxi's experience and practices.
It is known that in the course of investigating and handling a series of corruption cases such as Chen Xiaoming, former secretary of the party committee and chairman of Jiangxi Bank, the Jiangxi Provincial Commission for Discipline Inspection and Supervision urged the party committee of Jiangxi Bank to take up the main responsibility of using cases to promote reform and stop losses and save losses. Therefore, the bank focuses on solving the problem of large loans and concentrated loans, recovering funds or increasing the risk of mitigating collateral, stopping losses and recovering losses, and maintaining the bottom line of not occurring systemic risks and maintaining financial stability.
Peng Xinlin, a professor at the Law School of Beijing Normal University, said that discipline inspection and supervision organs should base themselves on their functions and responsibilities and do a good job in coordinating financial anti-corruption and financial risk prevention and control. At the same time, the anti-corruption experience in the financial sector should be comprehensively summarized and upgraded to the institutional level.
In Qu Jishan's view, it is necessary to coordinate financial risk prevention and financial anti-corruption, pay close attention to the corruption behind the risks, resolutely cut off the link between power and capital, and resolutely break the "interest chain" and "relationship network" of power and money transactions.
Zhuang Deshui, deputy director of the Research Center for Clean Government Construction at Peking University, and other scholars also reminded that finance is a typical field of centralized power, capital intensity, and resource enrichment, and it is easy to breed corruption through the revolving door of politics and business. For this kind of hidden corruption, we must crack down on it as soon as it appears and prevent incremental corruption. At the same time, it is also necessary to improve the construction of the system and promote the "three non-corruption" as a whole. (End)