Confidential records reveal how the Industrial and Commercial Bank of China’s London units courted high-risk clients to secure resources and alliances for Xi Jinping’s regime.
The urgent operation exposes how readily ICBC’s local branch bypassed internal checks to boost a Beijing favorite.
The Chinese banking giant turned a blind eye to alleged fraud and embezzlement within its ranks for years, according to a tranche of confidential files.
Based on a trove of 4.8 million records, China Capital reveals how ICBC used its U.K. operations to pursue explicitly political objectives for its majority shareholder, the Chinese government.
How does the Industrial and Commercial Bank of China operate? What did ICIJ uncover in millions of confidential bank records? These questions and more, answered.
A global investigation by ICIJ lays bare the hidden playbook of one of China’s most powerful banks.