Exclusive: Two Former CICC Execs Jailed for Bribery
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Han Tao (left), Liang Guozhong. Photo: AI generated
Two former senior executives at subsidiaries of investment banking giant China International Capital Corp. Ltd. (CICC) have been jailed for taking tens of millions of yuan in bribes, Caixin has learned.
Han Tao, a former executive director at private equity subsidiary CICC Capital Operation Co. Ltd., is serving a 10-year prison term after being found guilty of job-related crimes including bribery, people with knowledge of the matter said.
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- Former CICC executives Han Tao and Liang Guozhong received prison sentences of 10 and 7 years respectively for bribery and related crimes.
- Liang's offenses involved kickbacks exceeding 40 million yuan ($5.6 million), while Han manipulated company funds and set up an undisclosed fund for kickbacks.
- CICC Capital and its affiliates are under increased scrutiny following reports of multiple corruption scandals and investigations of senior management.
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Who’s Who
- China International Capital Corp. Ltd.
- China International Capital Corp. Ltd. (CICC) is an investment banking giant. Two former senior executives at its subsidiaries, CICC Capital Operation Co. Ltd. and CICC Alpha (Beijing) Private Investment Fund Management Co. Ltd., have been jailed for bribery. This highlights scrutiny faced by CICC Capital, following a previous report on its former Chairman Ding Wei.
- CICC Capital Operation Co. Ltd.
- CICC Capital Operation Co. Ltd. is a private equity subsidiary of China International Capital Corp. Ltd. (CICC). It has recently been under scrutiny due to former executives being involved in bribery scandals. One notable case involves Han Tao, a former executive director, who was sentenced to 10 years in prison for bribery and other job-related crimes.
- CICC Alpha (Beijing) Private Investment Fund Management Co. Ltd.
- CICC Alpha (Beijing) Private Investment Fund Management Co. Ltd. is a subsidiary of CICC Capital. Its former chairman, Liang Guozhong, was sentenced to seven years in prison for taking over 40 million yuan in kickbacks from companies within the fund's portfolio. Liang's sudden resignation from CICC Alpha and other institutions in late 2021 was followed by an internal announcement in 2024 regarding his suspected bribery.
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What Happened When
- 2017：
- Han Tao joined CICC’s investment department, the same year CICC Capital was established.
- 2020：
- Han Tao and Yang Yawei secretly set up a fund masquerading as a CICC affiliate, allegedly controlled by Han's relative Sun Hong.
- Early 2021：
- A whistleblower reported Han Tao for alleged misconduct, including an affair and kickbacks, leading to scrutiny of CICC Capital.
- Late 2021：
- Liang Guozhong suddenly resigned from CICC Alpha and several other institutions.
- 2024：
- CICC announced internally that Liang Guozhong was suspected of bribery.
- Around 6 months before 2025：
- Liang Guozhong was sentenced to 7 years in prison for taking kickbacks.
- Last week (in 2025)：
- Caixin reported that CICC Capital’s former Chairman Ding Wei was taken away by Chinese authorities.
AI generated, for reference only
- CX Weekly Magazine
Aug. 22, 2025, Issue 32
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