Ex-Branch President of Chinese Policy Lender Falls Under Graft Probe

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What’s new: Wang Fade, a former president of the Tianjin branch of the Export-Import Bank of China (Exim Bank), has been placed under investigation for suspected “severe violations of (Communist Party) discipline and law,” the country’s top anti-graft watchdog announced Wednesday, using the official jargon for corruption.

The background: The probe into Wang adds to a growing list of corruption scandals at the Exim Bank, the smallest of China’s three policy lenders.

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Wang Fade, former president of Exim Bank's Tianjin branch, is under investigation for suspected severe violations of discipline and law.
Previous Exim Bank executives, including Li Li and Dai Shihong, have also faced corruption probes with significant charges and consequences.
The Exim Bank, among China's three policy lenders, is part of Beijing's critical financial structure, which has seen increased anti-corruption efforts recently.

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Who’s Who

Export-Import Bank of China: The Export-Import Bank of China (Exim Bank) is one of China's three policy lenders, alongside the China Development Bank and the Agricultural Development Bank of China. It finances large projects crucial to societal and economic development. Recently, Exim Bank has been entangled in several corruption scandals, with investigations and prosecutions of former executives like Wang Fade, Li Li, and Dai Shihong for severe violations of Communist Party discipline and law.

China Development Bank: China Development Bank is one of China’s three policy lenders, alongside the Export-Import Bank of China and the Agricultural Development Bank of China. These banks are instrumental in financing large projects that, while not necessarily profitable, are essential for societal and economic development.

Agricultural Development Bank of China: The Agricultural Development Bank of China is one of China's three policy lenders, alongside the Export-Import Bank of China (Exim Bank) and the China Development Bank. Beijing relies on these policy lenders to finance large projects crucial to social and economic development, even if they are not highly profitable.

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What Happened When

January 2022：: The probe against Li Li, former president of the Beijing branch of Exim Bank, was announced by the Central Commission for Discipline Inspection (CCDI).

July 2022：: A graft investigation into Dai Shihong, former head of the bank’s Yunnan branch, was announced by the CCDI.

Early 2023：: Li Li pleaded guilty to charges of taking almost 100 million yuan ($14.5 million) in bribes.

Wednesday：: Wang Fade, former president of the Tianjin branch of Exim Bank, was placed under investigation for suspected severe violations of Communist Party discipline and law.

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