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Zhang Hongli – next top banker under suspicion of corruption

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By Heads

Published: November 7th, 2023,
Last updated: May 28th, 2025

As if he knew what was coming: Zhang Hongli in February 2012 as Vice President of the Industrial and Commercial Bank of China.

The official statement from the Chinese Central Commission for Discipline Inspection appears almost unremarkable: One sentence, just 61 characters long. But the content of the statement marks the abrupt end of an impressive career. Zhang Hongli, once a highly acclaimed top banker at Goldman Sachs and Deutsche Bank and later Vice President of the Industrial and Commercial Bank of China (ICBC), is suspected of serious disciplinary and legal violations. For this reason, the Central Commission for Discipline Inspection (CDDI) has initiated a corresponding investigation. In China, the wording means: Zhang Hongli is accused of corruption. Experience shows that his chances of being cleared of the charges are close to zero.

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