Senior executives at eight banking institutions in China’s Tianjin were warned by the city’s top Communist Party official against corruption, the country’s graft-buster said on Wednesday.

Tianjin’s Party boss Li Hongzhong criticized some officials at Tianjin’s financial institutions for having “lost morality” and “seriously violating the Party’s rules and discipline”, the Central Commission for Discipline Inspection (CCDI) said.

Discipline violation is a common euphemism for corruption.

CCDI, the national body that enforces discipline among Party officials, vowed in January to wipe out corruption linked to bank officials signing off on high-risk loans, in a sign of a deepening anti-corruption campaign that is now targeting banks and financial institutions.

“Political (literacy) always comes first,” CCDI cited Li as saying. “For those who failed to meet the requirements, we should resolutely remove them from leading positions.”

By Cheng Leng and Ryan Woo, Reuters, 22 May 2019

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Photo: ermell [CC BY-SA 3.0], via Wikimedia Commons

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