In the first quarter of 2025, according to incomplete statistics from the Central Commission for Discipline Inspection, at least 19 individuals in the mainland financial system have been investigated. Among them, 2 are at the central level management, 10 are officials from central-level Chinese Communist Party and state agencies, state-owned enterprises, and financial institutions, and 7 are provincial-level officials. The central-level officials include former Jilin Province Governor Jiang Chaoliang.
These investigated central-level officials include Jiang Chaoliang, member of the Standing Committee of the Fourteenth National People’s Congress of the Communist Party of China and Deputy Director of the Agriculture and Rural Affairs Committee, as well as Wang Huimin, former head of the Discipline Inspection and Supervision Group of the China Securities Regulatory Commission of the Central Commission for Discipline Inspection of the Communist Party of China.
“Central-level officials” is the title the Communist Party of China uses for the officials it manages. The appointment and management of these officials belong to the Central Committee of the Communist Party of China and are specifically implemented by the Organization Department of the Central Committee of the Communist Party of China.
Jiang Chaoliang has a long history in the financial system, having served as Assistant Governor of the People’s Bank of China, Director of the General Office, Director of the Work Committee of Trade Unions, Vice Governor of Hubei Province, Chairman and Party Secretary of China Construction Bank, Deputy Secretary and Deputy Chairman, and President of the China Development Bank, Party Secretary and Chairman of the Agricultural Bank of China, among other positions. In August 2014, Jiang Chaoliang was appointed Deputy Secretary of the Jilin Provincial Party Committee, and in October of the same year, he became the Governor of the province. In October 2016, he moved to Hubei Province as Secretary of the Provincial Committee and served until February 2020.
Wang Huimin started working at the Xinjiang Branch of the China Construction Bank in January 1984, where he held positions including Party Secretary and President of the Xinjiang Branch. In February 2002, Wang Huimin left the banking system to serve as Assistant to the Chairman of the Xinjiang Uygur Autonomous Region Government and member of the Party Committee. In August 2005, he also became Director and Party Secretary of the Financial Work Office of the Autonomous Region. Starting from August 2008, he additionally held the position of Party Secretary of the Rural Credit Cooperatives Union of the Autonomous Region. In January 2014, Wang Huimin joined the China Securities Regulatory Commission as Secretary of the Discipline Inspection Commission and member of the Party Committee. In December 2015, he became the head of the Discipline Inspection and Supervision Group of the China Securities Regulatory Commission, and later served as the head of the Discipline Inspection and Supervision Group of the Central Commission for Discipline Inspection of the National Commission for Discipline Inspection. He stepped down in 2019.
Apart from Jiang Chaoliang and Wang Huimin, among the 17 individuals investigated, 5 come from state-owned major banks. Among them are three officials from the Bank of China, including Che Deyu, former Party Secretary and President of the Tianjin Branch of the Bank of China, Liu Ming, former Party Committee member and Vice President of the Inner Mongolia Autonomous Region Branch, and Ge Chunyao, former Party Secretary and President of the Sichuan Branch. There is one individual each from the China Merchants Bank and the Industrial and Commercial Bank of China, namely Tu Lianggang, former senior expert at the Zhejiang Branch of the China Merchants Bank, and Xu Jie, former Party Secretary and President of the Henan Branch of the Industrial and Commercial Bank of China.
Three individuals come from policy banks, with two from the Export-Import Bank of China, including Wu Shaohua, former Party Secretary and President of the Beijing Branch of the Export-Import Bank of China, and Liu Zhenggui, former Party Secretary and President of the Liaoning Branch of the Export-Import Bank of China. One individual comes from the Agricultural Development Bank of China, Chen Xiaodong, former Party Secretary and President of the Henan Branch.
Three individuals are from the agricultural credit system, including Li Guangbi, former Party Secretary and Chairman of the Hainan Rural Credit Cooperative Union, Liu Jie, Party Committee member and Vice President of the Sichuan Rural Commercial Bank, and Wang Xianling, former member of the Standing Committee of the Thirteenth People’s Congress of Shandong Province.
Public records show that Wang Xianling was born in 1962. On January 4, 2017, Wang Xianling was appointed Party Secretary and nominated Chairman of the Shandong Provincial Cooperative. In April 2018, Wang Xianling was appointed Director of the Shandong Local Taxation Bureau.
Three individuals come from regulatory departments, including Sun Jianning, former Level 1 Inspector of the Shandong Banking and Insurance Regulatory Bureau, Pan Guangen, former Deputy Director of the Zhejiang Provincial Finance Office, former member of the Provincial Finance Working Committee, and former Deputy Director of the Provincial Local Finance Regulatory Bureau, and Zhang Wei, Deputy Director (Deputy Director) of the Financial Committee Office of the Jilin Provincial Party Committee.
There is one individual each from the insurance industry, the re-guarantee group, and the credit guarantee company – Yang Chao, former Party Secretary and CEO of China Life Insurance (Group) Company, Sun Baocheng, former Deputy Party Secretary and CEO of Jiangsu Credit Re-Guarantee Group Co., Ltd., and Zhang Anmin, Party Secretary and Chairman of the Shandong Agricultural Development Credit Guarantee Co., Ltd.