The Central Commission for Discipline Inspection (CCDI) of China announced on April 17 that Zhao Weihua, Chairman of Zhongyuan Trust Co., Ltd., and Secretary of the Party Committee, was subject to disciplinary review and supervision investigation.

According to Sina, at least 24 current or former executives of the banking system have been under investigation this year.

Zhao, 45, has worked in the banking system for more than 20 years. He is accused of serious violations of discipline and law.

The Commission for Discipline Inspection of Henan Province is responsible for the investigation.

Zhao first joined Zhongyuan Bank at the end of 2014 as an assistant to the bank’s president. He got promoted to vice president after four years. In 2020, he became the chairman of this 37-year-old trust company.

Zhongyuan Trust is a state-controlled financial institution with 317.2 billion yuan (50 billion dollars) in total assets. By the end of 2021, the bank had managed 1,137.5 billion yuan (178 billion dollars) of trust assets.

On March 30, Zhao last appeared at the trust’s conference on Comprehensively Strictly Governing the Party and Disciplinary Inspection and Supervision.

At least 24 current or former executives of the banking system have been investigated since the beginning of this year. They include three large state-owned banks, three policy banks, three joint-stock banks, 12 city commercial banks, and three rural financial institutions.

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