Tianjin Financial Industry Problem Frequently Around 8 Major Financial Institutions by the Secretary of the Municipal Party Committee

 Tianjin Financial Industry Problem Frequently Around 8 Major Financial Institutions by the Secretary of the Municipal Party Committee

It is worth mentioning that in recent years, Tianjin financial industry has exposed a lot of situations and attracted wide attention from the outside world, from the suicide of former chairman of Tianjin Agricultural and Commercial Bank, the prosecution of retired chairman on suspicion of bribery, to the prosecution of former chairman of Northern Trust on suspicion of bribery and embezzlement.

The meeting pointed out that politics is the first pass, and cadres who can not pass the first pass must not be used. Those who have already taken up leadership positions must be resolutely replaced and dealt with strictly according to rules and regulations.

Cadres who cant pass politics need a sword to seal their throats

The lack of Party spirit, the lack of organization, the lack of overall situation, the lack of discipline, the loss of morality and credibility, and the serious violation of the Partys political discipline and rules are the bad consequences of the bad political ecology, according to the content published on the website of the State Supervision Commission of the Central Discipline Commission, the interview meeting pointed out that politics is the first pass, and that the cadres who can not pass the first pass should be blocked by a sword. No, those who have already held leading posts must be resolutely replaced and dealt with strictly according to rules and regulations.

The meeting also pointed out that leading cadres at all levels in the city, especially those in financial institutions, should reflect on and examine deeply, keep in mind the first status of Communist Party members at all times, be respectful, fearful and stick to the bottom line, fulfill their duties for the cause of the Party and the state, and for the development of Tianjin, and practice the four consciousness and resolutely achieve the two safeguards through practical actions.

At present, Tianjins development is at the critical stage of Rolling Stones up the hill and carrying heavy loads forward, as well as the key period of preventing and defusing financial risks. Municipal Party committees and municipal governments have always placed prevention and resolution of financial risks in a prominent position, standing at the height of stressing politics and taking into account the overall situation, strengthening the bottom line thinking, not avoiding old historical accounts, mobilizing resources of the whole city, making every effort to resolve all kinds of debt risks, and resolutely holding the bottom line of non-occurrence of systemic financial risks.

The meeting said that financial institutions should thoroughly implement General Secretary Xi Jinpings important expositions on financial work, further enhance the sense of responsibility and urgency of mission, and timely investigate and resolve potential risks. Leaders of financial institutions should be deeply aware that they are managing financial assets for the Party, running enterprises for the people, fulfilling their duties and failing to make puppets in court. We should strengthen the supervision of financial institutions, reform the discipline inspection and supervision system of municipal financial enterprises, give full play to the discipline supervision role of discipline inspection and supervision departments, give full play to the function of the board of supervisors, strengthen internal supervision and management, and seriously pursue responsibility and accountability for inadequate performance and negligence of duty, so as to provide a strong political guarantee for the development of the financial industry in an all-round and strict manner.

Tianjin is a demonstration zone of financial innovation and operation entrusted by the Party Central Committee, which has a good foundation for the development of financial industry. The meeting said that with the increasing efforts to strictly govern the Party in an all-round way and the gradual improvement of the political ecology, we are fully confident and determined to achieve greater breakthroughs in financial innovation while winning the battle against major risks and resolving them. Financial institutions should take the initiative and make progress, vigorously promote the structural reform of the financial supply side, invest more financial resources in the real economy, and unswervingly promote the high-quality development of the financial industry. We should make greater efforts to promote the reform of mixed ownership, speed up the introduction of strategic investors, optimize the ownership structure and build a modern financial enterprise system. In the process of promoting mixed reform, we must not hinder reform for our own self-interest. Once we find out that we should deal with it seriously in violation of political discipline, we will never tolerate it.

A number of financial institutions frequently have negative effects.

To get more information, Daily Economic News contacted several of the eight financial institutions mentioned above. One of them said it was not clear what the meeting was about, but it was certain that the negative material cited in the meeting did not involve their banks or their specific banking business.

At the same time, interviews were sent to the above-mentioned financial institutions on the contents of the meeting and the measures taken by various institutions to prevent and mitigate financial risks after the meeting, but no reply was received as of the time of submission.

It is worth noting that in recent years, Tianjin financial industry has exposed a lot of risk problems, which has aroused widespread concern from the outside world. Especially in Tianjin Agricultural and Commercial Bank, there have been successive negative events. The shadow of the former chairman committing suicide by cutting his wrist in the office is still lingering. The former chairman has also been pulled out for many years after he retired. At the same time, in April this year, Tianjin Agricultural and Commercial Bank was fined a total of 800,000 yuan for covering up the quality of real assets and inadequate management of liquidity loans.

On April 20 last year, the Tianjin Municipal Committee launched the third round of inspection and stationing work, of which 22 municipal Party organizations in charge of state-owned enterprises carried out a two-month inspection. Yin Jinbao, then Secretary and chairman of the Party Committee of Tianjin Agricultural and Commercial Bank, was killed in the office on the 36th day after the inspection group was stationed in Tianjin Agricultural and Commercial Bank and Binhai Agricultural and Commercial Bank. The CPC Tianjin Discipline Inspection Commission and Tianjin Supervisory Commission have disclosed that the feedback from six groups of Tianjin Municipal Committee inspectors to Tianjin Agricultural and Commercial Bank has caused confusion in the selection and employment of candidates for Tianjin Agricultural and Commercial Bank.

In addition, in April this year, Bai Ping, former deputy secretary of the Party Committee and President of Tianjin Agricultural and Commercial Bank, who has retired for more than four years, filed a lawsuit with Tianjin Second Intermediate Peoples Court by the Second Branch of Tianjin Peoples Procuratorate on suspicion of bribery. The indictment alleges that Bai Ping, as a state functionary, takes advantage of his official convenience to seek benefits for others, or takes advantage of the convenient conditions formed by his own authority and position to seek unjust interests for others through the acts of other state functionaries in his official position, and takes or illegally accepts property from others. The amount is especially huge. He shall be investigated for criminal responsibility according to law for the crime of accepting bribes.

In fact, similar incidents are not individual cases.

According to the website of the Supreme Peoples Procuratorate of China, on September 17, 2018, Wang Jiandong, the former chairman of Northern Trust and Tianjin State-owned Capital Investment and Operation Co., Ltd., was charged with bribery and corruption by the Second Branch of Tianjin Peoples Procuratorate to Tianjin Second Intermediate Peoples Court. The prosecution accused Wang Jiandong of taking advantage of his position as general manager of Tianjin Jinlian Investment and Trade Co., Ltd. and general manager of Bohai Property Insurance Co., Ltd. to obtain property from others in a huge amount, instructing others to arbitrate public funds from units for their personal use, and deciding to sell unit assets to their relatives at a low price, with a particularly large amount, which should be punished by bribery and corruption according to law. Criminal responsibility for the crime of pollution shall be investigated. According to CNN, in June 2017, the Tianjin Municipal Party Committee held Wang Jiandong seriously accountable for his inaction, dismissed him as secretary and chairman of the Northern Trust Party Committee, and informed the whole city.