China Warns Top Bankers of Deepening Crackdown on Corruption
- CBIRC said to tell bank executives crackdown will continue
- China announced probe of ex-chairman of Bank of China Friday
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Chinese authorities warned the nation’s top banking executives that the crackdown on the $60 trillion industry is far from over in a private meeting late Friday, just as they were about to announce the probe of the most senior state banker in nearly two decades.
Officials from the China Banking and Insurance Regulatory Commission and the Central Commission for Discipline Inspection called in top executives from at least six big state-owned banks to address the probe of Bank of China Ltd.’s former Chairman Liu Liange, according to people familiar with the matter, who asked not to be named as the information is private.