Caixin
Sep 27, 2022 03:41 AM
FINANCE

Former Head of Exim Bank’s Beijing Branch Kicked Out of Communist Party

Li Li
Li Li

Li Li, former Communist Party chief and president of the Beijing branch of the Export-Import Bank of China (Exim Bank), was expelled from the party, removed from public positions and turned over to prosecutors on corruption charges, the country’s anti-graft watchdog said Monday.

Li is known as the “godmother” of China’s shipping industry as she initiated a large number of deals backing the sector. She oversaw the policy bank’s shipping and transport-related financing between 2006 and 2012 before she was promoted to Shanghai branch head. Li became head of the Beijing branch in 2019.

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