Former ICBC Regional Chief Ousted in China’s Graft Probe
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Xu Hai
A former president of Industrial and Commercial Bank of China Ltd.’s (ICBC) Yunnan provincial branch has been expelled from the Communist Party, amid an ongoing anti-graft campaign at the world’s largest bank by assets.
Xu Hai is facing multiple accusations, including illegally holding shares in unlisted companies, abusing his position to assist others with project contracting and loan financing in exchange for a “huge” amount of bribes, China’s top anti-graft watchdog said in a Monday statement, without elaborating on the figure.
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- Xu Hai, former ICBC Yunnan provincial branch president, was expelled from the Communist Party for corruption, including taking bribes and abusing his position.
- Xu turned himself in about six months prior and is part of a rising number of ICBC executives implicated in anti-graft investigations.
- Tao Biao and Yi Huiman, other senior ICBC officials, are also under scrutiny or investigation for corruption.
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Who’s Who
- Industrial and Commercial Bank of China Ltd.
- A former president of Industrial and Commercial Bank of China Ltd. (ICBC)'s Yunnan provincial branch, Xu Hai, was expelled from the Communist Party due to corruption charges. He is accused of illegal shareholdings, abusing his position for project contracting and loan financing in exchange for bribes. Xu Hai is one of many ICBC executives implicated in China's anti-corruption campaign.
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What Happened When
- Around June 2025：
- Xu Hai turned himself in to investigators.
- October 2025：
- Authorities launched a corruption probe into Yi Huiman, former chairman of ICBC who later led China's top securities regulator.
- November 2025：
- Tao Biao, head of ICBC's Yunnan provincial branch, became unreachable.
- December 29, 2025：
- China's top anti-graft watchdog announced the expulsion of Xu Hai from the Communist Party.
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