Former Chairman Wang Niansheng of the Hainan Provincial Rural Credit Union Society (referred to as Hainan Provincial Union Society) was investigated two years after stepping down. With this development, all three “leaders” of the Hainan Provincial Union Society have been removed from their positions.
According to the report from the Hainan Provincial Commission for Discipline Inspection and Supervision on June 3, Wang Niansheng, former Party Secretary and Chairman of the Hainan Provincial Rural Credit Union Society, is suspected of serious violations of discipline and law and is currently undergoing disciplinary review and supervision investigation by the Hainan Provincial Commission for Discipline Inspection and Supervision.
In late May, news emerged about Wang Niansheng being under investigation, which has now been confirmed. Shortly before the Chinese New Year, Wang Niansheng was still seen publicly attending the 2025 Chinese New Year tea party hosted by the Hainan Rural Commercial Bank, marking his most recent public appearance.
The Hainan Provincial Union Society has now become part of history. In May 2024, the Hainan Rural Commercial Bank was officially established. This bank was formed on the basis of the original Hainan Provincial Union Society and 19 city county corporate rural credit cooperatives/rural commercial banks.
Public records show that Wang Niansheng was born in January 1963 in Hengyang, Hunan Province. He was previously a high school teacher and later worked in the Propaganda Department of the Hengdong County Committee and the Policy Research Office of the Hengyang Municipal Committee. He moved to Hainan for work in 1992.
In 2002, Wang Niansheng was appointed as the Director of the Financial Work Office of the Hainan Provincial Government and later concurrently served as the Director of the Provincial Government Financial Work Office (Provincial Credit Management Office and the Office of the Provincial Leading Group for Disposing of Local Financial Risks).
In 2009, Wang Niansheng led the establishment of the Hainan Bank and became its first Chairman after the bank was founded in 2015.
In January 2021, Wang Niansheng became the Chairman of the Hainan Provincial Union Society, a position he held until stepping down in May 2023.
It is worth noting that all three leaders of the Hainan Provincial Union Society since its establishment in 2007, including Wang Niansheng, have been removed from their positions.
In April 2018, the first Chairman of the Hainan Provincial Union Society, Wu Weixiong, was investigated and sentenced to 15 years in prison in 2019; in March of this year, the second Chairman of the Hainan Provincial Union Society, Li Guangmi, was also investigated.