Retired ICBC Executive Expelled From Party for Bribery, Embezzlement

A retired executive from the Industrial and Commercial Bank of China Ltd. (ICBC), An Liyan, has been expelled from the Communist Party due to her involvement in multiple corrupt activities as revealed by the Central Commission for Discipline Inspection (CCDI) [para. 1][para. 2][para. 3][para. 4]. The investigation by CCDI uncovered that An misused company funds for personal expenses, engaged in unauthorized borrowing from entities under her management, and accepted bribes including money, gifts, and other favors from subordinates and clients [para. 2].

Further findings disclosed that An exploited her position to facilitate employment and promotions in exchange for personal benefits. Her actions not only breached trust but also led to significant financial losses to state-owned assets [para. 3]. Additionally, she manipulated her authority to assist companies in obtaining financing while accepting substantial bribes disguised as investments [para. 4].

The consequences of these corrupt practices are severe for An Liyan. All her illicit gains have been ordered to be confiscated, and she is set to face legal prosecution [para. 5]. An had a long-standing career at ICBC, serving as a deputy general manager of the bank’s investment banking division before moving on to become CEO of ICBC International Holdings Ltd., an ICBC subsidiary based in Hong Kong [para. 6][para. 7]. Her career ended upon her return to Beijing in 2021 when she retired shortly after relocating back from Hong Kong [para. 8].

As of March this year, ICBC reported having total assets amounting to 47.6 trillion yuan ($6.7 trillion), maintaining its status as China's largest commercial bank [para. 9]. This case highlights ongoing efforts by Chinese authorities to clamp down on corruption within major state-owned enterprises.