Home>News Center>China
           
     

    CCB removes two senior leaders amid listing
    (Agencies)
    Updated: 2005-05-30 08:31

    Scandal-ridden China Construction Bank has removed two senior officials in a bid to present a clean image to potential investors ahead of a planned overseas share sale, state media reported.


    A woman sweeps garbage off the street in front of a branch of China Construction Bank in Beijing in this undated file photo. The bank has removed two senior officials in a bid to present a clean image ahead of a planned overseas share sale, a report says. [AFP]
    The heads of two provincial branches have left office to take the blame for financial crimes and irregularities that happened at outlets under their jurisdiction, the Xinhua news agency reported.

    "We made the decision to build the sense of responsibility and tighten up rule enforcement at the entire bank," an unnamed spokesman at China's third-largest bank told Xinhua.

    The bank's headquarters said it had accepted the resignation of Liang Fucheng, president of the branch in the northern province of Shanxi, and Sun Jiancheng, president of the Hunan provincial branch in central China.

    Since Sun took over his job in October 2003, nine major cases of misdemeanors have been uncovered in Hunan, amounting to a total of 30 million yuan (3.6 million dollars), the Beijing News reported.

    "There has been no obvious improvement in operations since Sun took over," the paper commented.

    The bank has been extra sensitive to suspicions of wrongdoing after its former chairman Zhang Enzhao stepped down amid media reports of corruption earlier this year.

    Despite the high-profile resignation, the bank is forging ahead with plans to raise up to five billion dollars in an initial public offering overseas, state media has reported.

    China Construction Bank, along with Bank of China, another state bank, is undergoing restructuring in preparation for a global stock offering.

    Guo Shuqing, the bank's new chairman who took over from Zhang, has been quoted by state media as saying the bank's management team will accomplish the listing this year and the bank will speed up its talks with foreign investors.

    The two branch heads are the first to fall foul of new rules at China Construction Bank requiring leading staff members who "grossly neglect their duty" to take the blame and resign, regardless of their position.

    "The leader should resign if his or her breach of duty results in economic crime or irregularities committed by his or her subordinates," Xinhua said, quoting the regulations.

    "Those in charge of bank branches or business outlets should also be severely punished if such cases were uncovered by their superiors or state supervision departments."

    Doubts about corporate governance at the bank -- and at others also planning to list such as Bank of China -- have increased recently following a series of scandals involving fraud and embezzlement worth millions of dollars.

    Reports emerged earlier this year that eight million dollars had gone missing from one of China Construction Bank's branches in northeastern Jilin province, along with one or two officials.

    Bank of China, the nation's number two lender, is also looking into the disappearance of an huge sum of money from a sub-branch in Harbin near the Russian border.

    In that case, reports have indicated that at least two officials fled the country after embezzling up to one billion yuan (120 million dollars) of funds deposited by a number of mainland companies.

    It is believed that the China Construction Bank and Bank of China are under immense pressure from the government to perform better.

    In late 2003, as part of efforts to prepare them for its overseas listing, the central government provided each with a 22.5-billion-dollar fund injection taken directly from the nation's foreign exchange reserves.



     
      Today's Top News     Top China News
     

    China to scrap export tariffs on some textiles

     

       
     

    CCB removes two senior leaders amid listing

     

       
     

    End of tax breaks for companies in sight

     

       
     

    French voters reject first EU constitution

     

       
     

    China rips Japan's war-criminal remarks

     

       
     

    3 in 5 Japanese oppose Koizumi's shrine visit

     

       
      EU safeguard measures on textiles opposed
       
      Unhealthy lifestyle blamed for fatal diseases
       
      CCB removes two senior leaders amid listing
       
      World Bank gives cities high marks
       
      End of tax breaks for companies in sight
       
      Guangdong police target loan sharks
       
     
      Go to Another Section  
     
     
      Story Tools  
       
      Related Stories  
       
    CCB approves resignation of provincial heads
       
    Construction Bank nears sale of stakes
       
    Forex chief elected to chair CCB
       
    China's forex chief takes helm of CCB
       
    Former bank chairman faces US lawsuit
       
    China Construction Bank chief quits
       
    CCB chairman quits amid graft allegations
      News Talk  
      It is time to prepare for Beijing - 2008  
    Advertisement
             
    久久亚洲精品无码aⅴ大香| 亚欧无码精品无码有性视频 | 中文字幕一区二区三区5566| 亚洲欧洲美洲无码精品VA| 久久中文字幕精品| 无码精品久久久久久人妻中字| 亚洲中文字幕无码不卡电影| 无码乱人伦一区二区亚洲| 日本一区二区三区中文字幕 | 中文字幕精品视频在线| 国产高清无码视频| 亚洲国产精品无码久久98| 最好看的中文字幕2019免费| 东京热加勒比无码少妇| 中文字幕乱妇无码AV在线| 开心久久婷婷综合中文字幕| 亚洲中文字幕第一页在线 | 成人av片无码免费天天看| 在线高清无码A.| 五月丁香啪啪中文字幕| 久久超乳爆乳中文字幕| 中文字幕精品无码一区二区| 精品久久久久久无码专区| 无码中文av有码中文a| 制服在线无码专区| yellow中文字幕久久网| 亚洲成人中文字幕| 色综合久久久久无码专区| 一级中文字幕免费乱码专区| 中文字字幕在线一本通| 影音先锋中文无码一区| 国产亚洲精品无码成人| 人妻丰满熟妇av无码区不卡| 亚洲AV永久无码精品| 狠狠精品久久久无码中文字幕 | 中文字幕一区二区三区5566| 天堂а√在线中文在线| 亚洲中文字幕在线观看| 中文字幕本一道先锋影音| 国产在线精品一区二区中文| 7777久久亚洲中文字幕|