Former VP of Agricultural Bank of China under investigation

Lou Wenlong, former vice-president of Agricultural Bank of China, is undergoing disciplinary review and supervisory investigation by the country's top anti-graft watchdogs, an official statement said on Thursday.

The Communist Party of China Central Commission for Discipline Inspection and the National Commission of Supervision stated that Lou is suspected of serious violations of the Party disciplines and the laws.

Lou, 66, a native of Zhejiang province, once worked in the People's Bank of China, and China Banking Regulatory Commission. He served as the vice-president of ABC in 2012 until he resigned from the position in April 2017.

In another development, the Zhejiang Provincial People's Procuratorate approved the arrest of Zhang Hongli, former vice-president of the Industrial and Commercial Bank of China, on suspicion of accepting bribes, according to a statement issued by the Supreme People's Procuratorate on Thursday.

Zhang's case has been transferred to the procuratorial authority for review and prosecution following the conclusion of an investigation by the National Commission of Supervision. Further handling of the case is underway, the SPP said.

Zhang, 59, served as the vice-president of ICBC in 2010 and resigned from the position in 2018. 

He was placed under investigation in November 2023 and expelled from the Party early this month.