Former Chinese Banking Regulator Accused of Graft, Serving as a ‘Revolving Door’

China’s communist regime recently expelled a former executive regulator of small and medium-sized banks from the Chinese Communist Party (CCP). After a “fleeing resignation” from her official post, the anti-graft probe accused her of being a typical example of a “revolving door”—an official active in the fields of both politics and business, and aiming to profit from both. Jiang Liming, a 61-year-old veteran in the financial regulatory sector, was accused of collusion, forgery, accepting bribes, and evading investigation. On April 4, the Chinese anti-graft regulator announced Jiang’s alleged violation of laws and Party discipline, along with her alleged crimes of accepting bribes. A Revolving Door According to the allegations, Jiang evaded disciplinary punishment by deliberately planning to leave her job, and exploited the influence she had won in her official position to seek huge personal gains in business after her resignation. Her resignation was described as a typical example of an official fleeing their responsibility to serve as a “revolving door” between politics and business. Chinese media reported that Jiang left the finance supervisory department in 2016. She then became the vice president of Chinese real estate development giant Evergrande Group in 2017, working in funds management. It has been reported that Evergrande Group went on to acquire shares in Shengjing Bank, becoming the bank’s largest shareholder during her time at Evergrande. Shengjing Bank is a commercial bank with headquarters in Shenyang in northeastern China’s Liaoning Province. Liaoning Province was reported to be the top province in terms of the number of executives investigated for corruption, legal violations, and breaches of Party discipline at small- and medium-sized banks between 2021 and 2022. In early 2022, at least four bank executives from Liaoning were among the 43 top bank executives investigated in China. Current affairs commentator Hui Huyu said that cases of “fleeing resignation” and “revolving doors” are characteristic of the rampant corruption of officialdom under China’s communist regime. He said, “Everyone just wants to get something and leave as soon as possible, a phenomenon of a disintegrating regime.”

Former Chinese Banking Regulator Accused of Graft, Serving as a ‘Revolving Door’

China’s communist regime recently expelled a former executive regulator of small and medium-sized banks from the Chinese Communist Party (CCP). After a “fleeing resignation” from her official post, the anti-graft probe accused her of being a typical example of a “revolving door”—an official active in the fields of both politics and business, and aiming to profit from both.

Jiang Liming, a 61-year-old veteran in the financial regulatory sector, was accused of collusion, forgery, accepting bribes, and evading investigation.

On April 4, the Chinese anti-graft regulator announced Jiang’s alleged violation of laws and Party discipline, along with her alleged crimes of accepting bribes.

A Revolving Door

According to the allegations, Jiang evaded disciplinary punishment by deliberately planning to leave her job, and exploited the influence she had won in her official position to seek huge personal gains in business after her resignation. Her resignation was described as a typical example of an official fleeing their responsibility to serve as a “revolving door” between politics and business.

Chinese media reported that Jiang left the finance supervisory department in 2016. She then became the vice president of Chinese real estate development giant Evergrande Group in 2017, working in funds management.

It has been reported that Evergrande Group went on to acquire shares in Shengjing Bank, becoming the bank’s largest shareholder during her time at Evergrande.

Shengjing Bank is a commercial bank with headquarters in Shenyang in northeastern China’s Liaoning Province.

Liaoning Province was reported to be the top province in terms of the number of executives investigated for corruption, legal violations, and breaches of Party discipline at small- and medium-sized banks between 2021 and 2022.

In early 2022, at least four bank executives from Liaoning were among the 43 top bank executives investigated in China.

Current affairs commentator Hui Huyu said that cases of “fleeing resignation” and “revolving doors” are characteristic of the rampant corruption of officialdom under China’s communist regime.

He said, “Everyone just wants to get something and leave as soon as possible, a phenomenon of a disintegrating regime.”