Former Deputy Bank President's "Downfall" Aftershock: Chongqing Rural Commercial Bank Receives Another 8.7 Million Yuan Fine

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Yet another executive at a small-to-medium bank has received a lifetime industry ban.

On December 15, the Chongqing Regulatory Bureau disclosed that Chongqing Rural Commercial Bank had six violations in its operations, including lack of due diligence in loan "three checks," insufficient investigation and accountability in large risk losses, and errors in off-site statistical data.

In response to these issues, the regulatory bureau fined Three Gorges Bank 8.7 million yuan, and both then Vice President Shu Jing and Chief Loan Reviewer Feng Hongwei received lifetime industry bans. Additionally, nine mid-level managers including the General Managers of Corporate Business and Credit Approval Departments, as well as branch presidents and vice presidents, were held accountable.

This penalty may be the "aftershock" following Shu Jing's investigation last year.

In 2015, Shu Jing was approved as Vice President of Chongqing Rural Commercial Bank, entering the senior management team. Previously, she had worked for years at China Construction Bank and Everbright Bank, and after joining Chongqing Rural Commercial Bank, she was promoted from Deputy General Manager of the Business Department to Vice President.

In March 2024, Chongqing Rural Commercial Bank announced the dismissal of Vice President Shu Jing, and the next day the Chongqing Municipal Commission for Discipline Inspection reported that she was suspected of serious violations of discipline and law.

Eight months after being dismissed, Shu Jing was expelled from the Party and public office ("double dismissal") for serious disciplinary and unlawful acts including using her position for illegal business operations, embezzling public funds, seeking benefits for others in loan approvals, and receiving huge unlawful property.

The illegal and rule-breaking activities involving Shu Jing spanned many years and had a significant impact on Chongqing Rural Commercial Bank:

On one hand, those penalized include Peng Tao and Zeng Changxun, both former general managers of the bank's Corporate Business Department, and Li Huan and Cui Yan, both former vice presidents of Jiulongpo Branch, showing a long timeline of violations.

On the other hand, the penalized personnel cover all stages of credit approval, including branch presidents, vice presidents, credit approval department general managers, and chief loan reviewers. Shu Jing herself was in charge of the bank's accounting work as recently as 2023.

Apart from Shu Jing's "double dismissal," personnel changes at Chongqing Rural Commercial Bank have also been frequent in recent years.

Since 2022, the bank's chairman has changed three times in four years:

In April 2022, Liu Jianzhong retired, succeeded by Xie Wenhui. Two years later, Xie Wenhui left for another position, and in May 2025, Liu Xiaojun, with years of experience at China Construction Bank and CITIC Trust, was elected as the new chairman.

The vice president team also underwent a "major reshuffle," with nearly all four vice presidents replaced between 2023 and 2024:

Among them, Vice President Wang Min retired, Gao Song, Dong Lu, and Zhang Peizong left for job transfers, and Shu Jing was dismissed. As for new appointments, Zhou Guohua and Zhang Jin came from Chongqing Bank, Tang Li from ICBC, and only Tan Bin was promoted internally.

It is noteworthy that the three years when Chongqing Rural Commercial Bank's risk control shortcomings were exposed and personnel shuffled frequently were also the years of deep transformation in the banking industry. Uncertainty in management and changes in corporate operations may lead to shifts or interruptions in strategy.

For example, when Liu Jianzhong was chairman, the bank expanded its village/township banks in Jiangsu, Sichuan, Yunnan and other regions. Faced with exposed risks today, Chongqing Rural Commercial Bank's chosen risk resolution method is to clear assets instead of absorb them.

In December 2025, Chongqing Rural Commercial Bank listed its 90% equity in Jiangsu Zhangjiagang Rural Commercial Village Bank for sale, with a base price of 241 million yuan, or 1.34 yuan per share.

Now that the bank's management restructuring is complete, its future strategy, performance, and organizational stability remain to be observed.

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