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Shanghai Clearing House

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2021

    Two Shanghai Clearing House chairmen fall: Xu Zhen sentenced to 11 years, Xie Zhong removed

    Xu Zhen, first chairman of Shanghai Clearing House, was in 2021 expelled from the Communist Party and public office for embezzlement and bribery; the notice said the amount of public funds embezzled was huge, and he was later sentenced to 11 years at first instance. In January 2023, chairman Xie Zhong was removed from office and lost contact; media said he might be involved in the case of former PBOC Deputy Governor Fan Yifei. Xu Zhen was sentenced; Xie Zhong was removed and investigated.

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