The former president of the Bank of China Sichuan Branch, Ge ChunYao, has been expelled from the Party and dismissed from public office

According to the disciplinary inspection and supervision team of the Central Commission for Discipline Inspection and National Supervisory Commission stationed at Bank of China (03988.HK) and the Shanxi Provincial Commission for Discipline Inspection and Supervision, it was recently approved by the Central Commission for Discipline Inspection and National Supervisory Commission that the disciplinary inspection and supervision team stationed at Bank of China and the Shanxi Provincial Supervisory Commission have initiated an investigation into serious violations of discipline and law by Ge ChunYao, the former Party Secretary and President of the Sichuan Branch of Bank of China.

The investigation found that Ge ChunYao sought benefits for others in credit approval, bidding procurement, and personnel selection, and illegally accepted huge amounts of property; he violated national regulations by issuing loans of a substantial amount. After research by the Party Committee of Bank of China, it was decided to expel Ge ChunYao from the Party; after research by the disciplinary inspection and supervision team of the Central Commission for Discipline Inspection and National Supervisory Commission stationed at Bank of China, it was decided to dismiss Ge ChunYao from public office; his illegal gains were confiscated; and the Shanxi Provincial Supervisory Commission will transfer his suspected criminal issues to the procuratorial organs for legal review and prosecution, along with the involved property