FINANCE

China’s First Banking CIO Expelled Over Alleged Bribery

Published: May. 7, 2026 6:39 p.m. GMT+8

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Hou Weidong.

Hou Weidong, China’s first banking chief information officer (CIO), has been expelled from the Communist Party and referred for criminal prosecution over alleged bribery, the country’s top anti-graft agency said Thursday.

Hou, a former Bank of Communications Co. Ltd. (BOCOM) executive vice president, was accused of abusing his control over fintech resource allocation to help others secure projects and financing in exchange for “massive” bribes.

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Hou Weidong, China's first banking CIO and ex-BOCOM VP, expelled from Communist Party and referred for bribery prosecution.
Accused of abusing fintech resource control for massive bribes; illegal gains to be confiscated, benefits revoked.
Case underscores anti-corruption drive in banking tech sector; other BOCOM executives investigated.

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Who’s Who

Bank of Communications Co. Ltd.: Bank of Communications Co. Ltd. (BOCOM) employed Hou Weidong as executive vice president and China's first banking CIO (2004-2020). He was expelled for bribery in fintech resource allocation. The bank issued a rectification report tightening procurement controls, amid probes of other fintech executives.

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