Former ABC President Punished by Party for Corruption

(Beijing) – The Central Commission for Discipline Inspection said on January 29 it is punishing the former head of Agricultural Bank of China (ABC) over "violations of discipline," the Communist Party graft buster's preferred euphemism for corruption.

Zhang Yun, the former president and deputy party secretary of the country's third-largest lender by assets, was being demoted within the party and placed under two years of probation, the CCDI said in a statement on its website.