China's corruption watchdog investigates former ICBC banker as clampdown continues Zhang Hongli, a former senior executive at Industrial and Commercial Bank of China (ICBC), is currently under investigation by China's top anti-corruption watchdog, indicating a crackdown on corruption in the country's financial sector. The Central Commission for Discipline Inspection (CCDI) released a statement mentioning that Zhang is suspected of violating rules and laws but did not provide further details. ICBC is one of China's major banks and the largest lender by assets globally. Zhang served as a senior executive vice president at ICBC from 2010 to 2018, leveraging his international experience and knowledge of global financial markets. He had previously worked at Deutsche Bank and Goldman Sachs in senior management roles. Zhang was a former member of ICBC's Communist Party committee and left the bank in 2018 due to family reasons. The CCDI has been investigating several high-ranking executives in the banking sector this year as part of President Xi Jinping's anti-corruption campaign, aimed at consolidating his power. Notable figures who have faced scrutiny include Bao Fan, Li Xiaopeng, Liu Liange, and Wang Bin, with some facing charges and arrests for alleged corruption and bribery.
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