From Mega Lenders to Rural Branches, China’s Banking Purge Intensifies Amid Financial Turmoil

Ejecting hundreds of bankers, China’s anti-graft sweep signals a high-stakes reboot of lenders buckling under bad property loans and trillions of local debt.

A pedestrian walks past the People's Bank of China, also known as China's Central Bank in Beijing, on Aug. 22, 2007. Teh Eng Koon/AFP via Getty Images

News Analysis

A nearly three-year running anti-corruption drive has swept through every corner of China’s finance sector, toppling hundreds of mid- and high-level banking officials—from vice-ministerial figures at Beijing headquarters to branch managers in remote counties.