--- title: "China National Audit Office: Bank of China evaded taxes of 11 billion yuan by \"gathering names\"" type: "News" locale: "en" url: "https://longbridge.com/en/news/290775441.md" description: "The report from the National Audit Office of China disclosed that from April 2023 to August 2025, the Bank of China mobilized employees to contribute funds to \"meet the headcount,\" packaging 11 private equity funds as public funds, and utilized tax exemption policies to evade taxes amounting to 2.367 billion yuan. The Bank of China stated that it sincerely accepts supervision and will rectify the situation immediately. Additionally, the report pointed out that the Agricultural Bank of China issued loans amounting to 11.066 billion yuan in violation of regulations due to inadequate pre-loan reviews for non-high-standard farmland projects" datetime: "2026-06-25T04:38:28.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290775441.md) - [en](https://longbridge.com/en/news/290775441.md) - [zh-HK](https://longbridge.com/zh-HK/news/290775441.md) --- # China National Audit Office: Bank of China evaded taxes of 11 billion yuan by "gathering names" The National Audit Office of China has released a report revealing that the Bank of China, one of the four major state-owned banks in China, used a "headcount" method to package private equity funds as public funds, evading taxes amounting to RMB 2.367 billion (approximately NT$ 11 billion). According to reports from Hong Kong 01 and Ta Kung Pao, the National Audit Office of China published the "Audit Work Report on the Implementation of the Central Budget and Other Financial Revenues and Expenditures for 2025" on the 23rd, disclosing tax violation issues involving the Bank of China in the financial risk section. The report mentioned that between April 2023 and August 2025, the Bank of China arranged for two of its subordinate financial institutions to act as business channels, mobilizing a large number of employees to contribute amounts ranging from 1 yuan to 100 yuan in a "headcount" manner, packaging 11 private equity funds as public fund products, and utilizing the tax exemption policy for public funds to evade tax payments totaling RMB 2.367 billion. In response, the Bank of China stated that it sincerely accepts audit supervision, attaches great importance to the issues pointed out in the audit, conducts a thorough analysis of the reasons, insists on immediate rectification, refines and clarifies measures, and solidly promotes the rectification. Additionally, the report from the National Audit Office of China also named the Agricultural Bank of China, indicating that from December 2021 to August 2025, it had lax pre-loan reviews and illegally issued loans amounting to RMB 11.066 billion to non-high-standard farmland projects, with some funds misappropriated for purchasing wealth management products and repaying debts ### Related Stocks - [BACHY.US](https://longbridge.com/en/quote/BACHY.US.md) - [01288.HK](https://longbridge.com/en/quote/01288.HK.md) - [601288.CN](https://longbridge.com/en/quote/601288.CN.md) - [03988.HK](https://longbridge.com/en/quote/03988.HK.md) - [601988.CN](https://longbridge.com/en/quote/601988.CN.md) - [02388.HK](https://longbridge.com/en/quote/02388.HK.md) ## Related News & Research - [SUNeVision unit signs HK$3 billion loan facilities with Bank of China (Hong Kong)](https://longbridge.com/en/news/290807407.md) - [Singapore Airlines launches $221 million dim sum bond at 2.38% yield](https://longbridge.com/en/news/290553464.md) - [SLC Agricola exercises preference right to buy Mato Grosso farmland block for R$ 1.85 billion](https://longbridge.com/en/news/290966516.md) - [Heavyweights in Transition: Hong Kong's Financial and Property Sectors](https://longbridge.com/en/news/290670748.md) - [Bank of China Raises RMB50 Billion Through Tier 2 Capital Bond Issuance](https://longbridge.com/en/news/289900565.md)