Six months after stepping down, former deputy general manager of Sichuan Bank, Yang Chaohui, has been expelled from the Communist Party of China (CPC) and transferred to judicial authorities.
According to the notification released by the CPC Sichuan Provincial Commission for Discipline Inspection and Supervision on January 8th, with the approval of the provincial party committee, the provincial commission for discipline inspection and supervision initiated a case to investigate the serious disciplinary and legal issues of Yang Chaohui.
The notification stated that Yang Chaohui was involved in various misconducts. He would downplay and circumvent major financial decisions of the CPC, tamper with evidence, conceal personal relevant matters, misuse funds from management and service targets, illegally invest in businesses related to his position for personal gain, rent his own shop to his workplace for profit, and leverage his authority to facilitate financial gains for others in project loans, debt restructuring, and staff recruitment, accepting a huge amount of bribery in return.
Yang Chaohui was investigated while in office in June 2024.
Public information shows that Yang Chaohui was born in August 1974 in Yilong, Sichuan, and started working in July 1994. He had been involved in financial work for many years, working at various institutions including Shuxing Trust Investment Company, Bank of China Sichuan Branch, Guangfa Bank Chengdu Branch, and Sichuan Development Asset Management Co., Ltd.
In November 2020, Yang Chaohui was appointed as the deputy general manager of Sichuan Bank, serving as the Party Secretary and President of the Chengdu Branch, until his downfall in June of last year.
Established in November 2020, Sichuan Bank was founded as the first provincial-level corporate urban commercial bank in Sichuan Province. It was created through a merger on the foundation of Panzhihua City Commercial Bank and Liangshan State Commercial Bank, with the introduction of 28 investors.
Sichuan Bank has a registered capital of 30 billion RMB, ranking among the top city commercial banks in China.