Former Bank of China chairman indicted for bribery in nation's long-running anticorruption drive

Former Bank of China chairman indicted on bribery charges in Xi Jinping's anti-corruption campaign, facing severe consequences.

The former chairman of the Bank of China has been indicted on bribery charges, prosecutors said on February 19, adding to a long list of business and government officials who have been brought down by Chinese leader Xi Jinping's yearslong anticorruption drive.

Liu Liange is accused of taking advantage of his positions at the Bank of China and previously as president of the Export-Import Bank of China, the Supreme People's Procuratorate said in a statement posted on social media.

He has been charged with helping others with loans and personnel appointments in return for property and cash and with making loans in violation of regulations, causing significant losses, the official Xinhua News Agency said.

The charges against Mr. Liu, who has been under investigation for more than 10 months, were brought in the city of Jinan in eastern China's Shandong province.

The state-owned Bank of China, one of the country's “Big Four” banks, has a major overseas presence.

The anti-corruption campaign, which is popular with the public and has allowed Mr. Xi to sideline political rivals, shows no sign of letting up.