Anticorruption Drive Continues Under Chinese Leader Xi Jinping
The former chairman of the Bank of China, Liu Liange, has been formally charged with bribery, according to prosecutors. This development marks another high-profile figure ensnared in Chinese leader Xi Jinping’s ongoing anticorruption campaign.
Accusations and Charges
Liu Liange is accused of leveraging his positions at the Bank of China and the Export-Import Bank of China for personal gain. The charges include facilitating loans and personnel appointments in exchange for property and cash, as well as violating loan regulations, resulting in substantial financial losses.
Legal Proceedings
The indictment against Liu Liange, following a 10-month investigation, was filed in Jinan, Shandong province. Notably, the Bank of China, a significant player in the global financial sector, is a state-owned entity.
Continued Crackdown
Xi Jinping’s anticorruption crusade has led to the downfall of numerous officials across business and government sectors. Recent arrests, including that of Tang Shuangning from China Everbright Group, underscore the unrelenting nature of the campaign.
Call for Vigilance
Xi Jinping, emphasizing the gravity of the situation, has urged sustained efforts in combating corruption. Recent high-profile cases, such as the trial of the former chairman of the Chinese Football Association for bribery, demonstrate the wide-reaching impact of the crackdown.