Party expels former vice-president of China Construction Bank

Zhang Gengsheng, former vice-president of China Construction Bank, has been expelled from the Communist Party of China for serious disciplinary and legal violations, according to China's top anti-corruption watchdogs on Wednesday.

The Central Commission for Discipline Inspection and the National Supervisory Commission said in a release that, with the approval of the CPC Central Committee, they conducted an investigation into Zhang's alleged serious violations of discipline and law.

The investigation revealed that he lost his ideals and convictions, abandoned his original mission, resisted the investigation, and engaged in superstitious activities, according to the release.

Additionally, Zhang reportedly illegally accepted gifts, cash, and shopping cards, participated in arranged travel and banquets, and misused public funds for dining.

The former bank leader was found allegedly seeking benefits for others in employee recruitment and held shares in non-listed companies in violation of regulations, using his position to benefit the business activities of relatives and friends.

Furthermore, he was reportedly involved in extensive power-for-money exchanges, using his position to seek benefits for others in bank credit and loan approvals, and illegally accepted large sums of money and gifts.

The investigation also discovered that allegedly Zhang violated national regulations by issuing loans improperly, causing particularly significant losses.

The release said that his actions constituted serious violations of duty and suspected crimes of bribery and illegal loan issuance. His case has been transferred to the procuratorial organs for legal review and prosecution.

Zhang was placed under investigation in November.

Public information shows that Zhang, 65, a native of Anhui province, had worked for the bank for more than 10 years, and he became its vice-president in 2013.