Former CCB VP arrested on bribery, illegal loan allegations

Zhang Gengsheng, former vice-president of China Construction Bank, has been formally arrested on charges of suspected bribery and illegal loan issuance, the Supreme People's Procuratorate announced on Wednesday.

The case, investigated by the National Supervisory Commission, has been transferred to prosecutorial authorities for review and litigation. The Shandong Provincial People's Procuratorate, designated by the SPP, ordered the arrest following jurisdictional authorization.

The Central Commission for Discipline Inspection and the NSC said earlier that 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, China's top anti-corruption watchdogs said.

The investigation also discovered that Zhang allegedly violated national regulations by issuing loans improperly, causing particularly significant losses. Additionally, he reportedly illegally accepted gifts, cash and shopping cards, participated in arranged travel and banquets, and misused public funds for dining.

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

The arrest underscores China's intensified anti-corruption campaign targeting financial sector irregularities, emphasizing strict enforcement of discipline within State-owned institutions.