News Analysis
A nearly three-year running anti-corruption drive has swept through every corner of China’s finance sector, toppling hundreds of mid- and high-level banking officials—from vice-ministerial figures at Beijing headquarters to branch managers in remote counties.
The campaign, which began in late 2022, now blankets all six state-owned megabanks, the three big policy lenders, and dozens of provincial and city institutions.
Since 2023, at least 200 banking officials have been investigated or punished, according to The Epoch Times’ tally based on official announcements.
The purge comes as China’s banking system wrestles with a property market collapse that vaporized collateral values and a mountain of hidden local-government liabilities—an explosive mix that has already forced the merger, dissolution, or deregistration of 162 small banks in 2024 alone, according to a report by the South China Morning Post in Juanary….
From Mega Lenders to Rural Branches, China’s Banking Purge Intensifies Amid Financial Turmoil
