Bank of China’s former Chairman to be executed on corruption charges

Rs 168 Crore in illicit earnings to be confiscated

Beijing, China – China, renowned for its stringent crackdown on corruption, has intensified its efforts since President Xi Jinping assumed power in 2012. Under his leadership, hundreds of thousands of officials have been prosecuted as part of a sweeping anti-corruption campaign. In recent developments, two former defence ministers and several senior military officers have been sentenced for their involvement in corruption-related cases. Adding to the list, former Bank of China chairman Liu Liange has been sentenced to death on charges of corruption and illegal lending, marking yet another high-profile case in the country’s relentless drive against graft.

A court in Jinan city, Shandong province, has found Liu Liange, the former chairman of the Bank of China, guilty of corruption and illegal lending. Liu was convicted of accepting bribes totalling 121 million yuan (approximately Rs. 168 crore) and issuing illegal loans worth 3.32 billion yuan (approximately Rs. 4,620 crore) to unqualified institutions. These actions resulted in a government loss of an estimated 190.7 million yuan (approximately Rs. 270 crore).

Following the conviction, the court ordered the confiscation of all of Liu’s assets. Additionally, his illicit earnings will be seized and deposited into the state treasury, further demonstrating China’s commitment to holding corrupt officials accountable.

Editorial Perspective

While corruption among politicians and administrative officials remains a persistent issue in India, the lack of stringent actions, such as those seen in cases like Liu Liange’s in China, highlights a significant gap in accountability. Despite numerous allegations and investigations, cases often languish in courts or result in minimal consequences, perpetuating a culture of impunity. It is shameful for India.