Corruption Fallout: Lou Wenlong Expelled from Communist Party

The Communist Party of China has expelled Lou Wenlong, former vice president of the Agricultural Bank of China, for corruption. The investigation revealed Lou's misuse of public funds and failure to report personal matters. His case will proceed to criminal prosecution, part of Xi Jinping's extensive anti-corruption campaign.

The Communist Party of China took decisive action on Wednesday by expelling Lou Wenlong, the former vice president of the Agricultural Bank of China, on charges of corruption. According to a statement from the state's Xinhua news agency, the decision followed an in-depth investigation by the Communist Party's Central Commission for Discipline Inspection and the National Commission of Supervision.

Lou was found guilty of several offenses, including impeding the investigation, misusing public funds for lavish banquets, and failing to accurately report personal affairs. He also exploited his positions to favor others in areas such as regulatory approvals and financing, receiving significant monetary rewards in return.

The ruling dictates that Lou's illegal earnings will be confiscated and his case handed over to the procuratorate for criminal proceedings. This incident is a stark reminder of President Xi Jinping's expansive anti-corruption campaign, which has disciplined over a million officials since he assumed power in 2012. Critics argue that these measures have bolstered Xi's grip on the Communist Party and the military.

(With inputs from agencies.)