FINANCE

ICBC Audit Official Surrenders in Corruption Probe

Published: Mar. 20, 2026 10:53 p.m. GMT+8

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Chen Bing (left) and Shen Rongqin.

A senior manager at Industrial and Commercial Bank of China Ltd. (ICBC) has surrendered to authorities, while a former provincial branch chief faces prosecution, marking the latest cases to hit the world’s largest bank by assets amid China’s sweeping anti-graft campaign.

Chen Bing, a deputy head of ICBC’s internal audit bureau in Tianjin, is under investigation for suspected “serious violations of discipline and law,” according to an official statement released Friday evening. Authorities said Chen had voluntarily surrendered.

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ICBC senior manager Chen Bing surrendered to authorities amid an anti-graft campaign, facing investigation for serious legal violations.
Former Zhejiang branch president Shen Rongqin was expelled from the Communist Party and faces prosecution for bribery, embezzlement, and misuse of power.
These cases highlight China’s ongoing crackdown on financial sector misconduct, targeting both current and former ICBC executives.

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Who’s Who

Industrial and Commercial Bank of China Ltd.: Industrial and Commercial Bank of China Ltd. (ICBC), the world's largest bank by assets, is currently facing an anti-graft campaign. A senior manager, Chen Bing, has surrendered and is under investigation, while former provincial branch chief Shen Rongqin faces prosecution for bribery and other offenses.

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What Happened When

2011：: Shen Rongqin became the top executive at ICBC's Zhejiang provincial branch.

Around 2016：: Shen Rongqin left his role as head of ICBC’s Zhejiang provincial branch.

Around 2025：: Chen Bing moved to the Tianjin internal audit bureau.

May 2025：: Shen Rongqin came under investigation.

September 2025：: Chen Bing’s last public appearance.

By March 6, 2026：: Caixin reported that Chen Bing had been out of contact for two weeks before March 20, 2026.

March 20, 2026：: Authorities announced Chen Bing, deputy head of ICBC’s internal audit bureau in Tianjin, is under investigation for suspected serious violations of discipline and law. Chen voluntarily surrendered.

March 20, 2026：: Authorities announced the conclusion of an investigation into Shen Rongqin, former Communist Party chief and president of ICBC’s Zhejiang provincial branch. He was expelled from the Party and his case was transferred to judicial authorities.

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