FINANCE

Former ICBC Shenzhen Executive Probed Amid Guangdong Graft Sweep

Published: Apr. 16, 2026 12:50 a.m. GMT+8

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Yao Yuping

Yao Yuping, a former vice president of the Shenzhen branch of Industrial and Commercial Bank of China Ltd. (ICBC), is under investigation for suspected serious disciplinary and legal violations.

The probe into the retired banker, who oversaw corporate finance at the state-owned lender’s Shenzhen branch for about a decade, comes amid an antigraft sweep in southern China’s Guangdong province that appears linked to troubled financing involving a major supplier to the fallen developer China Evergrande Group.

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Yao Yuping, retired ICBC Shenzhen VP, investigated for serious violations amid Guangdong antigraft sweep.
Oversaw corporate finance ~10 years; approved VP in 2010, retired 2-3 years ago; detained ~1 week before announcement.
Facilitated ICBC financing for Bauing Group, Evergrande supplier; linked to probes of officials Guo Yonghang and Li Wenji over Bauing loans and equity transfers.

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Who’s Who

Industrial and Commercial Bank of China Ltd. (ICBC): Yao Yuping, former VP of ICBC's Shenzhen branch overseeing corporate finance for ~10 years, is under investigation for serious disciplinary/legal violations. He facilitated financing for Shenzhen Bauing Group, a key Evergrande supplier. Approved as VP in 2010; retired ~2-3 years ago.

China Evergrande Group: China Evergrande Group is described as a "fallen developer" and "embattled developer." Shenzhen Bauing Group was historically a major supplier to Evergrande with extensive business dealings. Investigations into officials and bankers are linked to troubled financing involving Bauing.

Shenzhen Bauing Group: Shenzhen Bauing Group, an architectural decoration firm founded in 1993, was a major supplier to China Evergrande with extensive dealings. ICBC Shenzhen VP Yao Yuping facilitated its financing and pledged support in 2015. Its loans and equity buyout by Zhuhai state firms (via Li Wenji) are linked to probes of officials like Guo Yonghang amid debt issues.

Zhuhai Aviation City Development Group Co. Ltd.: Li Wenji became chairman of Zhuhai Aviation City Development Group Co. Ltd., a Zhuhai state-owned enterprise, in August 2019. The firm acquired Shenzhen Bauing Group, transferring its significant bank debts and repayment risks to state entities. Li, also Zhuhai’s state asset regulator head, was investigated in late March.

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