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China Fund News Dawn

The latest update on anti-corruption in the financial sector!

On July 17, the official website of the Central Commission for Discipline Inspection and the National Supervisory Commission announced:Wang Fade, former Party Secretary and President of Tianjin Branch of China Export-Import BankHe is suspected of serious violations of discipline and law and is currently undergoing disciplinary review by the Central Commission for Discipline Inspection and the National Supervisory Commission’s Discipline Inspection and Supervision Group of the Export-Import Bank of China and supervisory investigation by the Xiangyang Municipal Supervisory Committee of Hubei Province.

Public information shows that Wang Fade has worked in the Export-Import Bank of China for many years, and has served as deputy general manager of the Concessional Loans Department, deputy general manager of the Assessment and Review Department, president of the Tianjin Branch, and senior manager of the Strategic Planning Department.

When attending public events in 2015, Wang Fade’s personal profile showed that he had served as the chief representative of the Southeast and Southern Africa Representative Office of the Export-Import Bank of China, in charge of the “two preferential” loan work in ASEAN and South Asia.

During Wang Fade's tenure at the Tianjin Branch of the Export-Import Bank of China, the branch was punished by regulators. In May 2019, the Tianjin Branch of the Export-Import Bank of China was fined 300,000 yuan by the former Tianjin Banking and Insurance Regulatory Bureau for charging fees in violation of regulations; in August 2021, the Tianjin Branch of the Export-Import Bank of China was fined 200,000 yuan by the former Tianjin Banking and Insurance Regulatory Bureau for failing to strictly implement "actual loans and actual payments".

In September 2021, the Tianjin Branch of the Export-Import Bank of China held a warning and education conference. Wang Fade, as the then Party Secretary and President of the Tianjin Branch, made arrangements for the next stage of work on party style and clean government construction of the Tianjin Branch.

In December 2023, Wang Fade attended a green finance forum, where his position was shown as "Head of the Strategy Department of the Export-Import Bank of China and former President of the Export-Import Bank of Tianjin."

Since the beginning of this year, many officials under the Export-Import Bank of China have been punished.

At the end of January this year,Zhu Canzhang, former head of the Risk Mitigation Supervision Team of the Export-Import Bank of ChinaThe notice pointed out that Zhu Canzhang illegally interfered in the selection of agency banks for credit entrustment business, used his position and influence to seek benefits for others in loan approval, fund payment, property leasing, business cooperation, employee recruitment, etc., and illegally accepted huge amounts of property, and issued loans in violation of state regulations, and the amount was extremely huge.

At the end of February, the official website of the Central Commission for Discipline Inspection reported:Li Jichen, former full-time review committee member of the Export-Import Bank of ChinaThe notice stated that Li Jichen used his position to help enterprises obtain loans for domestic and overseas projects, used his influence to profit for his family, and collected money by investing in shares and purchasing non-publicly issued stocks.

In April this year, the targets of the third round of inspections by the 20th Central Committee were announced, and the Export-Import Bank of China was also on the list.

Editor: Joey

Review: Xu Wen

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