FINANCE

China Widens Probe Into $6.8 Billion Bad-Loan Case Tied to Tianjin Skyscraper Project

Published: Jun. 8, 2026 7:00 p.m. GMT+8

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Two former Bank of China Ltd. (BOC) executives are under investigation over a roughly 46 billion yuan ($6.8 billion) bad-loan exposure tied to a stalled Tianjin property project linked to Hong Kong developer Pan Sutong, Caixin has learned.

The case underscores the lingering fallout from a failed real estate venture that continues to draw scrutiny across China’s state banking sector.

On Friday, anti-graft authorities said Wang Shaojun, a former president of BOC’s Shenzhen branch, is under investigation for suspected corruption. The notice followed a May 29 announcement that Xin Qiang, a former deputy head of the bank’s credit approval department, is also being investigated.

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Two former Bank of China executives are under investigation over a 46 billion yuan bad-loan exposure.
The loans are tied to Pan Sutong’s stalled Tianjin property project, including the Goldin Finance 117 skyscraper.
The case highlights ongoing scrutiny of legacy property lending risks in China’s state banking sector.

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Who’s Who

Bank of China Ltd.: Two former executives of Bank of China Ltd. (BOC) are under investigation for suspected corruption linked to a 46 billion yuan ($6.8 billion) bad-loan exposure from a stalled Tianjin property project tied to Hong Kong developer Pan Sutong.

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What Happened When

2015：: Goldin Finance 117 skyscraper project stalled after Pan's firms ran into liquidity crunch.

2025：: Tianjin project restarted under local government coordination.

May 2026：: Wang Shaojun, former president of BOC’s Shenzhen branch, and Xin Qiang, former deputy head of the bank’s credit approval department, were taken away for investigation.