09.16
·Reported
·Importance IV
·Sources 1
·London, United Kingdom
On September 14, the International Consortium of Investigative Journalists released an investigative report, pointing out that the Industrial and Commercial Bank of China's London branch, under directives from headquarters, tied commercial business to national strategy, provided financing to sensitive enterprises, and bypassed compliance procedures to assist Huawei in transferring huge sums of money, reflecting the operational logic of Chinese state-owned banks where profit serves political objectives.
09.14
·Reported
·Importance IV
·Sources 1
·London, United Kingdom
According to an ICIJ investigation based on 4.8 million confidential documents, ICBC's London branch, at the behest of its Beijing headquarters, provided financing for Belt and Road projects and opened accounts for the daughter of Azerbaijan's dictator, Russian oligarchs, and companies linked to Belarus's military-industrial complex.
09.14
·Reported
·Importance III
·Sources 1
·London, United Kingdom
According to an ICIJ investigation, while Zhang Hongli, a former executive director of ICBC, was in office, his former employer Deutsche Bank accused him of transferring $3.9 million to a company owned by relatives; ICBC did not pursue the matter and instead promoted him to become the main driving force behind Belt and Road financing. Zhang Hongli was later sentenced by a Chinese court to a suspended death penalty for accepting bribes.