The president of one of China’s “big four” state-owned banks has resigned for personal reasons, the company said, after reports he had been taken away in a corruption investigation, as probes widen in the nation’s financial sector.
Zhang Yun (張雲) had stepped down from Agricultural Bank of China (中國農業銀行), the bank said in a statement to the Hong Kong Stock Exchange, where it is listed.
The announcement came a month after China’s news portal Sina reported that Zhang, 56, had been taken away for questioning.
Meanwhile, China’s biggest brokerage, Citic Securities (中信證券), on Sunday told the Hong Kong exchange it had lost contact with two members of its executive committee — Chen Jun (陳軍) and Yan Jianlin (閆建霖) — and that they might be assisting an investigation.
However, some other employees of the brokerage had returned to work after being summoned for questioning by police, it added.
Chinese authorities have launched a series of investigations into the financial sector after a debt-fueled stock market bubble — encouraged by authorities — burst in the summer in a rout that wiped out trillions of dollars of market capitalizations.
Citic Securities said two weeks ago that the company was being probed by the market regulator, the China Securities Regulatory Commission, following police investigations into several company executives for insider trading and leaking inside information.
Agricultural Bank closed down 0.91 percent in Shanghai yesterday, but added 0.34 percent in Hong Kong.
Citic Securities dropped 1.86 percent in Shanghai and 0.33 percent in Hong Kong.
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