Liu Liange, the former chairman of the Bank of China, has been sentenced to a suspended death penalty by a court in Shandong province on charges of bribery and issuing illegal loans. The sentence, a common practice in China, includes a two-year reprieve, allowing for commutation to life imprisonment if Liu refrains from any criminal activity during the period.
Born in 1961, Liu Liange had a prominent career in China’s financial sector. He held significant roles at the People’s Bank of China and the Export-Import Bank of China before taking over as chairman of the Bank of China in 2019. However, his career came to an abrupt halt in October 2022 when the Chinese Communist Party expelled him over allegations of corruption and misconduct.
This case is part of China’s ongoing crackdown on corruption, an initiative that has intensified in recent years. Targeting high-ranking officials like Liu, the government aims to strengthen integrity and accountability within its institutions.
Liu’s downfall highlights the risks faced by powerful figures in China’s financial and political landscape as the government continues its stringent anti-corruption measures.
