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There are new achievements in financial anti-corruption!

On July 22, the official website of the Central Commission for Discipline Inspection and the National Supervisory Commission announced that Wang Zhibin, former party secretary and president of the Hubei Branch of the Industrial and Commercial Bank of China, was expelled from the party.

The notice pointed out that Wang Zhibin was seriously irresponsible in his work, causing major losses to state-owned assets, inquiring into and stealing secrets of disciplinary inspections and inspections, and privately retaining confidential materials related to letters and visits; he had an alienated view of power, used his power for personal gain, and illegally accepted huge amounts of property; he acted arbitrarily and abused his authority, illegally issuing huge amounts of loans.

Causing significant losses to state-owned assets

Illegal loan amounts are huge

According to the Central Commission for Discipline Inspection and the National Supervisory Commission's Discipline Inspection and Supervision Group stationed in the Industrial and Commercial Bank of China and the Hubei Provincial Commission for Discipline Inspection and Supervision: Recently, the Central Commission for Discipline Inspection and the National Supervisory Commission's Discipline Inspection and Supervision Group stationed in the Industrial and Commercial Bank of China and the Hubei Provincial Supervisory Commission opened an investigation into the serious violations of discipline and law by Wang Zhibin, former Party Secretary and President of the Hubei Branch of the Industrial and Commercial Bank of China.

Upon investigation, Wang Zhibin had the following problems:

• Losing ideals and beliefs, abandoning the original aspiration and mission, being disloyal and dishonest to the Party, being politically corrupt, winning over people to form “cliques” or gangs, colluding with others to give false testimony and transfer stolen money and property, resisting organizational review, being flamboyant, violating the Party’s fine traditions, and causing adverse political influence;

• Ignoring the spirit of the Central Committee’s eight regulations, accepting gifts and cash gifts in violation of regulations, accepting banquets that may affect the impartial performance of official duties, and using transportation vehicles that exceed the standards;

• Violating organizational principles, failing to truthfully report personal matters, and using power or influence to seek benefits for others in cadre selection and employee recruitment;

• Losing integrity, illegally borrowing funds from those under management and service, obtaining large returns through private lending, and infringing on collective interests in the allocation of housing;

• Seriously irresponsible in work, causing major losses to state-owned assets, prying into and stealing disciplinary inspection and inspection secrets, and privately retaining confidential materials related to letters and visits;

• The view of power is distorted, power is used for personal gain, and huge amounts of money and property are illegally accepted; power is abused and authority is abused, and huge amounts of illegal loans are issued.

The notice pointed out that Wang Zhibin seriously violated the party's political discipline, organizational discipline, discipline on integrity and work discipline, constituted serious violations of duty and was suspected of bribery and illegal lending crimes, and did not restrain or stop after the 18th National Congress of the Communist Party of China. The nature of his violations is serious and the impact is bad, and he should be dealt with seriously.

In accordance with the "Regulations on Disciplinary Punishment of the Communist Party of China", the "Supervision Law of the People's Republic of China", the "Administrative Punishment Law of Public Officials of the People's Republic of China" and other relevant regulations, after research by the Party Committee of the Industrial and Commercial Bank of China, it was decided to expel Wang Zhibin from the party; cancel the benefits he enjoyed according to regulations; confiscate his illegal gains; and the Hubei Provincial Supervision Commission transferred his suspected criminal case to the procuratorial organ for review and prosecution in accordance with the law, and the relevant property was transferred with the case.

Worked in ICBC for many years

Has been punished by regulators

Public resume information shows that Wang Zhibin, a Han Chinese, is from Xinye, Henan Province. He has a bachelor's degree and is a senior economist. He started working in September 1980.

Wang Zhibin has worked in ICBC for many years. From March 2004 to July 2006, Wang Zhibin served as member of the Party Committee of ICBC Hubei Branch and concurrently general manager and secretary of the Party Committee of the Business Department. From July 2006 to August 2012, he served as deputy president, member of the Party Committee, concurrently general manager and secretary of the Business Department of Hubei Branch. From August 2012 to May 2013, he served as deputy president and member of the Party Committee of Hubei Branch. In May 2013, Wang Zhibin was promoted to president and secretary of the Party Committee of ICBC Hubei Branch, a position he held for many years.

In September 2020, the former Hubei Banking and Insurance Regulatory Bureau reported that branches under the jurisdiction of ICBC Hubei Branch raised funds from peers by signing non-head office-standard financial management agreements and illegally provided off-balance sheet financing to enterprises. ICBC Hubei Branch's Xiangyang and Jingmen branches raised a total of 13.9 billion yuan in this way.

The former Hubei Banking and Insurance Regulatory Bureau imposed administrative penalties on ICBC Hubei Branch, Xiangyang Branch, Jingmen Branch and 19 responsible personnel in accordance with the law, including a total fine of 35.3 million yuan on banking institutions and administrative penalties such as cancellation of senior management qualifications, prohibition from employment, fines, and warnings on relevant responsible personnel. Among them, Wang Zhibin, then president of ICBC Hubei Branch, was warned and fined 100,000 yuan.

In January this year, according to the Discipline Inspection and Supervision Group of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed in the Industrial and Commercial Bank of China and the Hubei Provincial Commission for Discipline Inspection and Supervision, Wang Zhibin, former Party Secretary and President of the Hubei Branch of the Industrial and Commercial Bank of China, was suspected of serious violations of discipline and laws and was subject to disciplinary review by the Discipline Inspection and Supervision Group of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed in the Industrial and Commercial Bank of China and supervisory investigation by the Hubei Provincial Supervisory Commission.

Recently, the anti-corruption work of state-owned banks has continued to deepen, and many cadres have been successively dismissed. Since the second half of 2024, the cadres of state-owned banks who have been notified to accept review and investigation include: Jiang Qi, deputy inspector of the Hunan Branch of the Agricultural Bank of China, Yi Yingsen, former marketing director and general manager of the institutional business department of the Agricultural Bank of China, Peng Jiabin, former member of the Party Committee and deputy president of the Jiangxi Branch of China Construction Bank, Xu Yanfeng, member of the Party Committee and deputy president of the Shanghai Branch of the Industrial and Commercial Bank of China, and Zhang Shiqiang, former member of the Party Committee and deputy president of the Guangxi Branch of China Construction Bank.

Editor: Joey

Reviewer: Chen Siyang

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