Multiple Financial Executives Commit Suicide Amid China’s Financial Crisis

In 2023, at least 96 Chinese financial executive have fallen from grace, and 38 people have been investigated in the five major state-owned banks.

People walk past a branch of the Bank of China in Beijing on Sept. 11, 2009. Peter Parks/AFP via Getty Images

As the Chinese Communist Party (CCP) continues to purge its financial system, state media recently revealed that a number of bank executives have committed suicide or died suddenly.

According to the authorities of Yingshan County, Hubei Province, Wang Shengyong, the president of the Yangtze River Village Bank in the county, died of carbon monoxide poisoning on Dec. 5 at the age of 54 years old. It was reported that Wang committed suicide after using his position to defraud depositors of 40 million yuan (about $5.6 million) under the guise of capital raising.