LIU Lianke, a former president of the Export-Import Bank of China (Cexim), has been sentenced to death with two years reprieve in a first-instance ruling, for corruption and illegal loan issuance, according to a statement by the Jinan Intermediate People’s Court in Shandong Province.

During his tenure at Cexim and the Bank of China, he abused his power in loans, financing and personal arrangements, receiving bribes totalling more than Yuan121m ($16.7m), the court statement said.

Despite knowing that certain companies were unqualified for loans, he approved nearly Yuan3.3bn, leading to principal losses exceeding Yuan190.7m.

The court announced the sentencing, which also includes a lifelong deprivation of Liu’s political rights and the confiscation of all his personal assets.

Liu had served at Cexim from 2007, rising through the ranks to become president in 2015.

He transferred to the Bank Of China in June 2018 as president and deputy chairman, before being promoted to chairman a year later.

Following a sudden resignation announcement in March 2023, he was revealed to be under investigation by the anti-graft watchdog.

During his senior management tenure from 2007-2018, Liu presided over Cexim’s meteoric growth in ship financing, as China’s shipbuilding exports boomed.

He told a domestic ship finance conference in October 2016 that the policy bank had built up a loan worth a staggering Yuan170bn ($25bn) since 2013 alone.

The probe into Liu is part of Beijing’s sweeping crackdown on corruption that has become endemic in the domestic financial system.

Targets range from top executives at other state-owned banks and institutions to managers and brokers in China’s ship finance sector.

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