China Charges U.S.-Educated Ex-Mayor With Hiding Offshore Deposits
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Liu Jiachen
Prosecutors have charged the former mayor of Kunming with embezzlement, bribery, and concealing offshore deposits, nearly a year after the U.S.-educated official was placed under investigation.
The Supreme People’s Procuratorate said Wednesday that Liu Jiachen, who served as mayor of the capital city of southwestern Yunnan province until early 2025, has been indicted by the Yuxi People’s Procuratorate. The charges follow an 11-month probe by the provincial supervisory committee.
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- Former Kunming mayor Liu Jiachen was charged with embezzlement, bribery, and concealing offshore assets after an 11-month investigation.
- Liu, a Rutgers-educated “sea turtle,” is accused of abusing power over two decades, with financial crimes described as involving “especially huge” amounts.
- He is the latest in a series of Kunming officials prosecuted for corruption; four consecutive mayors have faced similar probes since 2007.
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Who’s Who
- China Life Insurance
- Wang Bin, former chairman of China Life Insurance, was mentioned in the article. He was among the high-profile figures ensnared in recent crackdowns for concealing offshore bank accounts, a distinct crime under Article 395 of China's Criminal Law.
- China Development Bank
- He Xingxiang, former vice president of China Development Bank, was mentioned in the article as a high-profile figure who was ensnared in a crackdown for failing to declare overseas assets.
- Honeywell
- Honeywell employed Liu Jiachen, the former mayor of Kunming, as a software engineer in the U.S. before his return to China. Liu, who earned a doctorate from Rutgers University, worked for Honeywell after 2002.
- Intel Corp.
- Intel Corp. was involved in a landmark $4.8 billion deal in 2006 with the city of Dalian to construct a semiconductor fabrication plant. Liu Jiachen, then a district official, served as the chief negotiator for Dalian in this project, which was hailed as a significant foreign investment success.
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What Happened When
- 2002：
- Liu Jiachen received a doctorate in industrial engineering from Rutgers University in New Jersey.
- 2003：
- Liu was recruited to join the Dalian Information Industry Bureau.
- 2006：
- Liu served as chief negotiator for Dalian’s $4.8 billion deal with Intel Corp.
- 2016：
- Liu was transferred to Yunnan province.
- Late 2020：
- Liu became mayor of Kunming.
- December 2023：
- Liu completed the SCO Kunming Marathon in under three hours and 48 minutes.
- January 15, 2025：
- Liu last appeared in public at the closing of a municipal congress.
- January 21, 2025：
- Authorities announced an investigation into Liu's conduct.
- Early 2025：
- Liu served as mayor of Kunming until this time.
- By January 14, 2026：
- Liu Jiachen was indicted after an 11-month investigation by the provincial supervisory committee.
- January 14, 2026：
- The Supreme People’s Procuratorate announced Liu Jiachen's indictment.
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