Postal Savings Bank of China controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2024
Li Guohua sentenced to 16 years in first instance for bribery and abuse of power
On May 7, 2024, the Qingdao Intermediate People's Court sentenced Li Guohua, former general manager of China Post and chairman of Postal Savings Bank of China, to 16 years in prison in the first instance. It found that he accepted bribes of more than 66.45 million yuan, of which more than 21.59 million yuan was not actually obtained; abuse of power caused losses of state-owned assets of more than 49.96 million yuan, involving his positions in the postal system.
2023
Fined 31.86 million yuan by central bank for multiple financial management violations
In July 2023, the central bank announced administrative penalties including a fine of 31.86 million yuan on Postal Savings Bank of China for 10 categories of illegal acts. Caixin reported on its penalty and those of other financial institutions in the same period. This entry is limited to the matters and institution specified in the penalty and does not imply that all branches and sub-branches committed the same violations.
2016
Criminal case of first president Tao Liming and termination of trial after death
According to The Paper, the case involving Tao Liming, first president of Postal Savings Bank of China, included over-issuance of certificate treasury bonds and illegal financing, among other matters, and he had received a first-instance judgment. He died in June 2016 during the second-instance trial, and his own case was terminated due to death; the final judgments of other defendants in the same case cannot be regarded as his own final conviction.