Another Chinese financial official has fallen from grace in the ongoing anti-corruption campaign. After stepping down as the former head of the Guangxi branch of Construction Bank three years ago, Li Siying has recently come under investigation.
On September 30th, the Central Commission for Discipline Inspection and the National Supervisory Commission of the Communist Party of China announced that Li Siying, former party secretary and head of the Guangxi Zhuang Autonomous Region branch of Construction Bank, is suspected of serious violations of discipline and law. She is currently undergoing disciplinary review by the Discipline Inspection and Supervision Team stationed at Construction Bank and an investigation by the Supervisory Commission of Zunyi City, Guizhou Province.
Public information indicates that Li Siying had worked at Construction Bank for many years, serving as deputy head of the Guangxi Zhuang Autonomous Region branch before becoming party secretary and head of the branch in 2017, a position she held until 2022.
In March 2017, Construction Bank’s Guangxi branch was fined 300,000 RMB by the former Banking Regulatory Commission for illegally transferring non-performing loans, with Li Siying serving as the legal representative at the time.
It is noteworthy that just a year before Li Siying’s downfall, another official from Construction Bank’s Guangxi branch was investigated. In July 2024, former deputy head Zhang Shiqiang was implicated, and in January of this year, he was expelled from the party and dismissed from office.
The announcement of Zhang Shiqiang’s downfall stated that he had illegally obtained substantial returns through private lending, abused his authority to assist related companies in loan approval processes, and unlawfully accepted large sums of money.