Exclusive: Former ICBC Ally of Fallen Finance Czar Yi Huiman Unreachable
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Shi Gang
A key former executive at China’s largest bank, who was a close associate of fallen financial titan Yi Huiman, has become unreachable, fueling speculation that the corruption investigation into Yi is widening.
Shi Gang has recently lost contact, Caixin has learned from multiple sources with knowledge of the matter.
Shi, 65, is a retired president of Industrial and Commercial Bank of China Ltd.’s (601398.SH) powerful Beijing branch. Caixin reached out to him repeatedly in recent days, but calls went unanswered and text messages received no reply by publication time.
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- Shi Gang, a key former ICBC executive and close associate of Yi Huiman, has become unreachable amid a widening corruption investigation.
- Yi Huiman, ex-chairman of ICBC and China Securities Regulatory Commission, is under probe for corruption; multiple associates have already been implicated.
- The investigation has impacted several executives tied to Yi and Shi, including recent probes into top ICBC branch leaders and executives involved in major financial transactions.
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Who’s Who
- Industrial and Commercial Bank of China Ltd.
- Industrial and Commercial Bank of China Ltd. is China's largest bank, and it is state-owned. A corruption investigation into former chairman Yi Huiman is causing aftershocks through the bank. Several current and former executives, including Shi Gang and Gu Jiangang, have been investigated or are unreachable, suggesting a widening probe into the financial giant.
- China Securities Regulatory Commission
- The China Securities Regulatory Commission (CSRC) is the country's securities watchdog. Yi Huiman, who is currently under investigation for suspected corruption, was formerly the chairman of the CSRC.
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What Happened When
- 1984：
- Shi Gang joined ICBC upon its founding.
- 2000：
- Yi Huiman was named president of ICBC’s Jiangsu branch.
- 2001：
- Shi Gang was promoted to vice president of ICBC’s Jiangsu branch.
- 2005：
- Yi Huiman was transferred to lead ICBC’s Beijing branch; Shi Gang succeeded him as head of Jiangsu branch.
- 2009：
- Shi Gang took the helm of ICBC's Guangdong branch.
- 2016：
- Yi Huiman began his chairmanship at ICBC.
- 2017：
- Shi Gang was transferred to lead ICBC’s Beijing branch.
- 2019：
- Yi Huiman's chairmanship at ICBC ended and he was appointed to lead China Securities Regulatory Commission.
- 2020：
- Shi Gang retired from ICBC.
- 2023：
- Gu Jiangang and Huang Mingxiang were investigated.
- 2024：
- Gu Jiangang was prosecuted on charges of embezzlement and bribery. Ying Weiyun was also put under investigation.
- Earlier in 2025：
- Jiang Yisheng, former chairman of ICBC Macao, was placed under investigation.
- Last month in 2025：
- Announcement that Yi Huiman is under investigation for suspected corruption.
- Recent days in 2025：
- Caixin reached out to Shi Gang, but he became unreachable.
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