Former chairman of Guizhou Bank, Li Zhiming, who fell from grace nearly a year ago, has been expelled from the Communist Party and referred to judicial authorities.
On September 23, the Central Commission for Discipline Inspection of the Communist Party of China and the National Supervisory Commission announced on their official website that Li Zhiming, former secretary of the party committee and chairman of Guizhou Bank, has been stripped of his party membership and benefits. It was also disclosed that he is being investigated for suspected criminal offenses.
According to the announcement, Li Zhiming distorted his views on power, engaged in political patronage to seek personal advancement, failed to truthfully report personal matters, accepted gifts that could influence the impartial execution of official duties, engaged in profit-making activities in violation of regulations, committed official misconduct, and engaged in corrupt practices. He leveraged his position for personal gain by facilitating loan applications and securing lease contracts for others, as well as unlawfully accepting substantial bribes.
Li Zhiming was officially removed from his position on October 11, 2023, nearly three years after resigning from his post at Guizhou Bank.
Public records indicate that Li Zhiming was born in November 1961 and has over 40 years of experience in the banking industry.
Li Zhiming worked at the China Agricultural Bank in Hubei for nearly 30 years before moving to institutions in Shenzhen, including the Wuhan branch of a bank and Hubei Bank. He previously served as the vice president of Hubei Bank.
In December 2017, Li Zhiming joined Guizhou Bank as the secretary of the party committee. In April 2018, he assumed the dual role of party committee secretary and chairman of the bank.
On January 28, 2021, Guizhou Bank announced that Li Zhiming had resigned from his positions, including chairman, executive director, chairman of the Board’s Strategic Development Committee, authorized representative under the Listing Rules of the Hong Kong Stock Exchange, and all other roles in the bank, due to governmental work arrangements.
Of note, on May 22 this year, former president of Guizhou Bank, Xu An, was also officially removed from his position. On March 7, before his investigation, Guizhou Bank announced that due to work arrangements, Xu An would no longer serve as deputy secretary of the party committee, and had voluntarily resigned from all positions in the bank, including executive director and president.