Ex-Vice President of ICBC’s Shandong Branch Disappears Amid Graft Crackdown

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At least three senior executives at ICBC’s local operations have been probed over the past two months

A former senior executive of Industrial and Commercial Bank of China Ltd. (ICBC) (601398.SH) has been out of contact amid an anti-corruption crackdown sweeping through the world’s largest lender.

Li Ming, a former vice president of ICBC’s Shandong provincial branch, has been out of reach, Caixin learned from multiple sources. Several calls made by Caixin to his mobile phone have led to a “temporarily unavailable” message, and inquiry text messages were not responded.

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Li Ming, a former ICBC executive in Shandong, is missing amid an anti-corruption crackdown at ICBC.
Three other senior ICBC executives have also been investigated for graft recently.
During Li's tenure, ICBC Shandong maintained ties with Tranlin Group, which faced a significant debt crisis and bankruptcy restructuring in 2019.

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Who’s Who

Industrial and Commercial Bank of China Ltd. (ICBC): Industrial and Commercial Bank of China Ltd. (ICBC) (601398.SH) is the world's largest lender. Established in 1984, it offers a wide range of financial services. The Shandong provincial branch, a first-tier branch, handles financial operations across Shandong province, excluding Qingdao. As of 2023, its total loans have surpassed 1.2 trillion yuan, ranking first among peers with a non-performing loan ratio below 1%.

Shandong Tranlin Group Co. Ltd.: Shandong Tranlin Group Co. Ltd. was a leading enterprise in China's paper industry but saw a steep decline after 2017 due to poor decision-making, excessive debt, and chaotic management. Its debt crisis affected several financial institutions, and in October 2019, a court ruled for its bankruptcy restructuring, which involved debts exceeding 46 billion yuan and nearly 14,000 creditors.

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What Happened When

Early 2020：: Li Ming retired from ICBC.

March 2024：: Sun Jianyong, a former vice president of ICBC’s Shandong branch, was brought under investigation.

June 2024：: Ying Weiyun, a vice president of ICBC’s Beijing municipal branch, was put under a corruption investigation.

July 2024：: Xu Yanfeng, a vice president of ICBC’s Shanghai municipal branch, was placed under graft investigation.

July 10, 2024：: An investigation into Wu Ningfeng, a retired president of ICBC’s Inner Mongolia provincial-level branch, was announced.

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