China Banking and Insurance Regulatory Commission expels former Sichuan Banking Regulatory Bureau head Wang Zeping and refers suspected bribery case to the procuratorate

The China Banking and Insurance Regulatory Commission published a disciplinary notice announcing that Wang Zeping, former Party Committee secretary and director of the Sichuan Banking Regulatory Bureau, was expelled from the Communist Party of China and removed from public office for serious violations of discipline and law. Disciplinary and illegal gains are to be confiscated, and the suspected crime is to be transferred to the procuratorate for review and prosecution together with the assets involved. The investigation, approved by the Central Commission for Discipline Inspection and the State Supervision Commission and conducted by the discipline inspection team stationed at the State Administration of Financial Supervision and Administration together with Sichuan supervision authorities, found that Wang abandoned regulatory responsibilities and resisted organizational review, including by fabricating evidence. It also cited violations of organizational and integrity discipline, including concealing personal property interests, using his power and influence to benefit others in promotions and job adjustments, accepting gifts and other benefits, borrowing large sums from supervised entities without compensation, and providing assistance on matters including bank supervision, loan financing and business contracting in return for illegally accepting huge amounts of property, giving rise to suspected bribery.