Bank of Communications Ex-Deputy Governor Chen Huiyi Probed
Chen Huiyi, former deputy governor and Party Committee member of the Bank of Communications Heilongjiang branch, has been placed under investigation for suspected serious disciplinary and legal violations, according to an announcement on June 5 by the Central Commission for Discipline Inspection (CCDI). The case marks the latest development in China’s sustained anti-corruption campaign targeting the financial sector.
Investigation Details
The probe is being conducted through a dual-track system, with the CCDI Discipline Inspection Group stationed at Bank of Communications handling the disciplinary review, while the Mudanjiang Municipal Supervisory Commission in Heilongjiang Province carries out the supervisory investigation. This dual approach is standard practice for serious corruption cases in China, combining internal Party discipline with state-level legal scrutiny.
Xinhua News Agency confirmed the investigation, reporting that Chen is suspected of “serious violations of discipline and law.” The announcement, which uses standard phrasing for such cases, did not disclose specific allegations or the timeline of Chen’s alleged misconduct.
Broader Anti-Corruption Context
Chen Huiyi is at least the seventh person within the Bank of Communications system to be investigated in 2026, continuing a trend of heightened scrutiny that has made the bank one of the most closely watched state-owned financial institutions in China’s ongoing anti-corruption drive.
According to reporting from multiple Chinese media outlets, including Yicai (First Financial), the Bank of Communications has faced a disproportionate number of corruption cases compared to its peers among China’s five largest state-owned commercial banks. Notable recent cases include:
- Guo Hongwei, former Party Secretary and President of the Tianjin branch, expelled from the Party in February 2025
- Zhou Baozhi, former Party Secretary and President of the Guangdong branch, accused of long-term concealment of illicit assets and illegally issuing loans of extraordinarily large amounts
- Hu Xiaobing, former Deputy General Manager of the Credit Approval Department at headquarters, expelled from the Party and dismissed from office in April 2026
Regulatory and Financial Pressures
The investigation comes amid broader challenges for Bank of Communications. In 2024, the bank received 145 regulatory penalty notices, with total fines amounting to 58.58 million yuan (approximately $8.1 million USD). Over the past three years, accumulated fines have reached 120 million yuan (approximately $16.6 million USD).
The bank’s net interest margin fell to 1.28% in the first three quarters of 2024, the lowest among China’s state-owned banks, while its non-performing loan ratio for credit cards rose to 2.39%, up 0.47 percentage points year-on-year. These financial pressures have coincided with the intensified anti-corruption scrutiny.
Significance and Implications
The investigation into Chen Huiyi carries several important implications. First, it demonstrates that China’s anti-corruption campaign in the financial sector continues to reach provincial-level branch management, signaling that no level of management is exempt from scrutiny. Second, the dual-track investigation involving both the CCDI’s internal banking oversight unit and local supervisory authorities reflects the comprehensive nature of China’s anti-corruption enforcement system.
The case also highlights the particular scrutiny faced by Bank of Communications relative to other major state-owned banks. As China News Service reported, the investigation was announced simultaneously by both the CCDI group at the bank and the Heilongjiang Provincial Commission for Discipline Inspection, underscoring the coordinated nature of the probe.
What to Watch
While the specific allegations against Chen Huiyi remain undisclosed, the investigation is expected to follow the standard trajectory for such cases: formal charges, potential dismissal from Party and public office, and possible criminal prosecution. The case may also lead to further probes of other Bank of Communications officials in Heilongjiang Province and beyond, as anti-corruption authorities continue their systematic review of the financial sector.
The investigation represents a continued enforcement of President Xi Jinping’s anti-corruption campaign, which has maintained steady pressure on state-owned financial institutions since intensifying in 2023.