ABC Executive Is Target of Three Inquiries
(Beijing) – Yang Kun, a vice president at Agricultural Bank of China, has been detained by the party's disciplinary department for investigation in three separate cases, Caixin learned from multiple sources.
One of the cases involves loan agreements ABC signed with a property developer, whose effective owner, Wang Yaohui, allegedly used bank loans to repay gambling debts worth several billions of yuan.
- WeChat 'Glitch' Allows Family to Raise over 2 Million Yuan in 80 Minutes
- China's VAT Rebate Reform Aims to Boost Local Government Fiscal Strength
- Share Splits Raise Stock Market Suspicions
- China Faces Severe Coal Transport Capacity Shortage
- Audi Scraps Plans for New China Dealer Network
- Regions Found to Have 'Critical' Heavy Metal Emissions Now Clean Up Act
- Official PMI Spikes as Producer Prices Rise, Exports Surge
- China Adds 10% Consumption Tax for Superluxury Cars
- News Calendar, December 5-11
- Caixin's Manufacturing Indicator Dips to 50.9 in November
- Sign up to receive our free daily newsletter