China’s corruption watchdog investigates Gu Guoming, head of ICBC’s Shanghai branch
- Gu Guoming, chief governor of the branch, is regarded as one of the most powerful figures in Shanghai’s financial sector
- It is the second scandal involving the world’s biggest lender by assets in the space of two months
The head of the Industrial and Commercial Bank of China’s Shanghai branch is under investigation for alleged serious violation of party discipline and infringement of criminal laws, the Communist Party’s anti-corruption body said.
The Central Commission for Discipline Inspection (CCDI) of the Communist Party said in a statement on Thursday evening that it had placed Gu Guoming, the bank’s chief governor, under investigation.
It is the second scandal involving the world’s biggest lender by assets in the space of two months. The CCDI launched an inquiry into Xie Ming, a retired deputy chief of ICBC’s Chongqing branch, in April.
A CCDI statement on Thursday night did not give any details of Gu’s alleged misconduct.
Gu, who is also chairman of the Shanghai Payment and Clearing Association, is regarded as one of the most powerful figures in Shanghai’s finance sector.