from Great Game India:
Bankers have started committing suicide as China begins to hunt down corruption in the financial system, with at least 96 cadres being investigated for corrupt practices.
Numerous bank officials have either committed suicide or passed away unexpectedly, according to state media, as the Chinese Communist Party (CCP) continues to purify its banking system.
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Wang Shengyong, the president of the Yangtze River Village Bank in Yingshan County, Hubei Province, passed away on December 5 at the age of 54 from carbon monoxide poisoning, according to the county’s authorities. Wang allegedly killed himself after defrauding depositors of 40 million yuan (about $5.6 million) while posing as a capital raiser.
Official media sources state that 49-year-old Du Haitao, deputy general manager of Industrial and Commercial Bank of China (ICBC) Credit Suisse Asset, passed away on December 13 from a heart attack while out for a run. Du, who was born in 1974, served as chairman of ICBC Credit Suisse Asset Management (International) Co., LTD and deputy general manager of ICBC Credit Suisse Asset Management Co., LTD.
The president of Huaxia Bank’s Tianjin branch, Gong Danzhi, passed away on December 10. The news was confirmed by the local police department.
In November 2020, Gong Danzhi was named president of Huaxia Bank’s Tianjin branch, according to business information. He has previously served as both the president and vice president of the bank’s Beijing urban sub-center branch.
Huaxia Bank, China’s fifth nationally listed bank, was founded in October 1992, went public on the Shanghai Stock Exchange in September 2003, and employs over 40,000 people. It has 44 first-tier branches throughout the nation. The first significant shareholder in Huaxia Bank is the massive state-owned company Shougang Group, which holds 21.68 percent of the shares.
Maksim Oreshkin, the economic advisor to Russian President Vladimir Putin, said that the German car industry could be sold to China and cease to be European cars.
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