The former chairman of the Bank of China, Liu Liange, has been indicted on bribery charges, as announced by prosecutors on Monday. This development adds to the ongoing efforts of Chinese leader Xi Jinping's campaign against corruption. Liu is facing accusations of abuse of power from his roles at the Bank of China and as the past president of the Export-Import Bank of China, according to a statement released by the Supreme People’s Procuratorate on social media.
Allegations against Liu include facilitating loans and influencing personnel appointments in exchange for personal gains such as property and cash. Moreover, it is reported that he granted loans in violation of regulations, resulting in substantial financial losses. These charges stem from an investigation spanning over 10 months and have been filed in Jinan, located in Shandong province in eastern China.
