Former Vice President "Fell" Aftershock, Chongqing Rural Commercial Bank Receives a Fine of 8.7 Million

Another executive of a small and medium-sized bank has faced a lifetime ban from the industry.

On December 15, the Chongqing Regulatory Bureau disclosed that Chongqing Rural Commercial Bank had six violations in its operations, including inadequate due diligence in loan "three checks," insufficient investigation and accountability for large risk losses, and errors in off-site statistical data.

In response to the above issues, the regulatory bureau imposed a fine of 8.7 million yuan on Sanxia Bank, and the then Vice President Shu Jing and Chief Loan Auditor Feng Hongwei both received lifetime bans from the industry. Additionally, nine middle-level managers, including the general manager of the corporate business department, the general manager of the credit approval department, and branch managers and vice presidents, were held accountable.

This penalty may be an aftershock following Shu Jing's investigation last year.

In 2015, Shu Jing was approved as the vice president of Chongqing Rural Commercial Bank and entered the senior management team. Prior to this, she had worked for many years at China Construction Bank and Everbright Bank. After joining Chongqing Rural Commercial Bank, she rose from deputy general manager of the business department to vice president.

In March 2024, Chongqing Rural Commercial Bank announced the dismissal of Vice President Shu Jing, and the next day, the Chongqing Municipal Commission for Discipline Inspection and Supervision reported that she was suspected of serious violations of discipline and law.

Eight months after her dismissal, Shu Jing was "double-opened" for serious violations of discipline and law, including illegally operating similar businesses using her position, embezzling public funds, profiting from loan approvals for others, and illegally accepting large amounts of property.

The illegal and regulatory behaviors involving Shu Jing spanned many years and had a significant impact on Chongqing Rural Commercial Bank:

On one hand, among those penalized were Peng Tao and Zeng Changxun, two former general managers of the corporate business department, and Li Huan and Cui Yan, two former vice presidents of the Jiulongpo branch, indicating a long involvement.

On the other hand, the penalized individuals were involved in various aspects of credit approval, including branch managers, vice presidents, general managers of the credit approval department, and chief loan auditors. Shu Jing herself was also in charge of the bank's accounting work in 2023.

Aside from Shu Jing being "double-opened," personnel changes at Chongqing Rural Commercial Bank have also been frequent in recent years.

Since 2022, the bank's chairman has undergone three changes in four years:

In April 2022, Liu Jianzhong retired at the age limit, and Xie Wenhui took over. Two years later, Xie Wenhui was transferred and left office. Until May 2025, Liu Xiaojun, who has many years of experience working at China Construction Bank and CITIC Trust, was elected as the new chairman.

The vice president team also experienced a "major reshuffle," with almost all four vice presidents being replaced between 2023 and 2024:

Among them, Vice President Wang Min retired at the age limit, Gao Song, Dong Lu, and Zhang Peizong left due to job transfers, and Shu Jing was dismissed. Among the newly appointed vice presidents, Zhou Guohua and Zhang Jin came from the local Chongqing Bank, and Tang Li came from Industrial and Commercial Bank of China, with only Tan Bin being promoted internally.

It is worth mentioning that the three years of exposed risk control shortcomings and frequent personnel changes at Chongqing Rural Commercial Bank coincided with the deepening transformation of the banking industry. The uncertainty of the management team and changes in the company's operating conditions may lead to changes or interruptions in strategy.

For example, when Liu Jianzhong served as chairman, he had previously established village and town banks in Jiangsu, Sichuan, Yunnan, and other places. Now, in the face of exposed risks, Chongqing Rural Commercial Bank has chosen to clear rather than absorb risks.

In December 2025, Chongqing Rural Commercial Bank listed for sale 90% of its shares in Jiangsu Zhangjiagang Rural Commercial Bank at a base price of 241 million yuan, equivalent to 1.34 yuan per share.

Now that the management team of Chongqing Rural Commercial Bank has completed its restructuring, the future strategy, performance, and organizational stability remain to be observed