Bank of China Chairman Sentenced: Corruption Crackdown Intensifies

Liu Liange, former chairman of the Bank of China, received a death sentence with a two-year reprieve for corruption. Found guilty of accepting bribes and illegal loan issuance, he lost political rights for life. This highlights China's ongoing anti-corruption campaign targeting high-profile figures.

Liu Liange, the former Bank of China chairman, was sentenced to death with a two-year reprieve for corruption charges, marking a significant action in China's continued crackdown on corruption. Liu accepted bribes surpassing 121 million yuan (USD 16.8 million), according to a Jinan city court in eastern China's Shandong Province.

The court's verdict also stripped Liu of his political rights for life, mandated the confiscation of his personal assets, and ordered the recovery of his illegal earnings to be turned over to the state's treasury. Liu exploited his roles at the Export-Import Bank of China and the Bank of China by unlawfully assisting in loan financings and project cooperations for bribes.

Further revelations indicated Liu knowingly facilitated loans worth more than 3.32 billion yuan to unqualified businesses, resulting in a significant financial loss. This sentencing arises amid China's broader anti-corruption efforts led by President Xi Jinping since 2012, which have implicated over a million officials, including other high-profile banking figures and military personnel.

(With inputs from agencies.)