Corruption Charges Filed Against Former China Merchants Bank President

Tian Huiyu, the former president of China Merchants Bank Co., was charged with committing violations including taking bribes, insider trading and abuse of power after nearly a year of investigations.

Shanghai- and Hong Kong-traded China Merchants Bank (CMB) is China’s seventh-largest commercial lender by total assets, behind the nation’s “Big Six” state-owned banks. The downfall of Tian, who served as CMB president for almost nine years before being removed by its board in April 2022, has been one of the most-watched corruption cases in China’s sweeping campaign to clean up financial misconduct.