Retired BoCom Vice President Probed in Anti-Corruption Crackdown
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A file photo of Hou Weidong. Photo: Beijing Daily
A former senior executive at Bank of Communications Co. Ltd. (BoCom), who pioneered the role of chief information officer in China’s banking sector, has been placed under a graft probe five years after his retirement.
Hou Weidong, a former member of the Communist Party committee and vice president of BoCom, is under investigation for “serious violations of discipline and law,” according to a statement Tuesday from China’s top anti-corruption agencies — the Central Commission for Discipline Inspection and the National Supervisory Commission.
Hou stepped down from BoCom in April 2020 after a career that spanned leadership roles in IT systems at major state-owned banks, including Industrial and Commercial Bank of China Ltd. (ICBC).
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- Hou Weidong, former vice president and CIO at Bank of Communications (BoCom), is under graft investigation by China’s top anti-corruption agencies five years after retiring.
- The probe is part of an ongoing crackdown on corruption involving financial technology units at major Chinese state banks, affecting multiple executives across institutions.
- Hou, a pioneer CIO in China’s banking sector, held leadership roles at BoCom and ICBC, and continued making academic appearances after his 2020 retirement.
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Who’s Who
- Bank of Communications Co.Ltd.
- Bank of Communications Co. Ltd. (BoCom) is a Chinese state-owned bank. A former senior executive, Hou Weidong, who served as vice president and pioneered the chief information officer role in Chinese banking, is under a graft probe. This investigation is part of a broader anti-corruption campaign targeting fintech units within major Chinese state banks. Other former BoCom executives have also faced similar probes.
- Industrial and Commercial Bank of China Ltd.
- Industrial and Commercial Bank of China Ltd. (ICBC) is one of the major state-owned banks in China. Hou Weidong, a former senior executive at Bank of Communications Co. Ltd. (BoCom), previously worked at ICBC. He joined ICBC in 1984 and later oversaw its head office data center before moving to BoCom.
- BoCom MSIG Life Insurance Co. Ltd.
- BoCom MSIG Life Insurance Co. Ltd. is mentioned as an entity where Hou Weidong, a former member of the Communist Party committee and vice president of BoCom, served as chairman during his tenure at Bank of Communications Co. Ltd. (BoCom).
- BoCom Fintech Co. Ltd.
- Liu Yikun, the vice president of BoCom Fintech Co. Ltd., was placed under investigation by authorities in August 2023. This is part of a broader crackdown on corruption within the financial technology units of China's largest state banks.
- China Development Bank
- The China Development Bank (中国国家开发银行) is mentioned as one of the state-owned banks affected by the broader crackdown on corruption in financial technology units. Teng Guangjin, a senior IT expert at the China Development Bank, was recently targeted in these investigations.
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What Happened When
- 1982：
- Hou Weidong began his career as an accounting clerk at the Qingdao branch of the People’s Bank of China.
- 1984：
- Hou Weidong joined Industrial and Commercial Bank of China (ICBC).
- 2002：
- Hou Weidong joined Bank of Communications (BoCom).
- 2004：
- Hou Weidong was named chief information officer at BoCom — the first known CIO in China’s banking industry.
- 2010：
- Hou Weidong was elevated to vice president of BoCom and also chaired BoCom MSIG Life Insurance Co. Ltd.
- 2017：
- Liu Shujun, the bank’s former custody department chief, retired from BoCom.
- April 2020：
- Hou Weidong stepped down from Bank of Communications (BoCom).
- August 2023：
- Authorities began inquiries into Liu Yikun, vice president of BoCom Fintech Co. Ltd., and Zhou Yanting, general manager of BoCom’s financial technology department.
- Late 2023：
- Liu Shujun, BoCom’s former custody department chief, was placed under investigation.
- December 2023：
- Hou Weidong made a university lecture on financial innovation.
- By 2025：
- Campaign against corruption in financial technology units at China’s largest state banks steadily intensified.
- 2025：
- Targets of the anti-corruption crackdown include Teng Guangjin of China Development Bank and Li Weiping, former ICBC personal finance director.
- October 29, 2025：
- China’s top anti-corruption agencies announced that Hou Weidong is under investigation for serious violations of discipline and law.
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