Ex-Chief of China Merchants Bank Expelled From Party for Corruption

What’s new: Tian Huiyu, a former president of China Merchants Bank Co. Ltd. (CMB) (600036.SH), has been expelled from the Communist Party and removed from public office for severe violations of law and party discipline — a euphemism for corruption — the country’s top anti-graft watchdog said Saturday.

Shanghai- and Hong Kong-listed CMB is China’s seventh-largest commercial lender by total assets, trailing the nation’s “Big Six” state-owned banks.