Former Party Secretary and President of Industrial and Commercial Bank of China Zhejiang Branch Shen Rongqin Expelled from Party

Editor | Fan Hui

On March 13, the official website of the Central Commission for Discipline Inspection and the National Supervisory Commission announced that Shen Rongqin, former Party Committee Secretary and President of the Zhejiang Branch of the Industrial and Commercial Bank of China (ICBC), has been expelled from the Party.

Recently, the Discipline Inspection and Supervision Team of ICBC stationed in the Zhejiang Branch and the Jinzhou City Supervisory Committee of Liaoning Province filed a case for investigation into Shen Rongqin’s serious violations of discipline and law.

According to the investigation, Shen Rongqin has the following issues:

● Lost ideals and beliefs, abandoned original mission, does not believe in Marxism-Leninism, but in ghosts and gods; violated the spirit of the Central Eight-Point Regulation, organized official receptions exceeding standards;

● Lacked organizational awareness, did not truthfully explain issues during inquiry, illegally sought personnel benefits for others, concealed personal matters;

● Had no bottom line of integrity, long-term accepting gifts, attended banquets that could influence impartiality, engaged in profit-making activities illegally, held positions and received compensation after resignation, used his position to embezzle company assets, traveled on public funds, used official vehicles for private purposes, and had expenses paid by others that should have been paid by himself;

● Violated work discipline, improperly intervened in branch renovation projects, improperly performed loan approval responsibilities, causing huge losses; violated personal conduct discipline;

● Distorted the concept of power, used his position to benefit others in loans and financing, after resignation used the influence of other state employees to benefit others, and illegally accepted large sums of money. Approved and issued loans illegally on a massive scale.

The announcement pointed out that Shen Rongqin severely violated the Party’s political discipline, organizational discipline, integrity discipline, work discipline, and life discipline, constituting serious violations of his duties and suspected of crimes such as bribery, using influence to seek benefits, and illegal loan issuance. After the 18th National Congress of the Communist Party, he did not restrain himself or stop, with serious nature and bad influence, and should be dealt with seriously.

Public information shows that Shen Rongqin was born in June 1957, joined the Party in November 1979, is of Xianju, Zhejiang, with a graduate degree and is a senior economist.

Shen Rongqin has worked for many years at ICBC, serving as Vice President and President of the Taizhou Branch, Vice President of the Zhejiang Branch, President and Party Secretary of the Shandong Branch, President and Party Secretary of the Zhejiang Branch, and Dean and Party Secretary of the Hangzhou Financial Training Institute, among other positions.

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