China banking watchdog clears 84 mln staff transactions

China's banking watchdog has cleared more than 84 million yuan (10.5 million US dollars) of transactions that related to working staff at all levels of the banking regulatory departments.

Figures released on Sunday by the China Banking Regulatory Commission (CBRC) showed that by Jan. 15, the commission had discovered 212 staff members had borrowed 35.48 million yuan from the banks for non-consuming purposes.

Besides, 191 members served as warrantors for 26.26 million yuan worth of loans, 18 members as introducers for 7.54 million yuan worth of loans, one member invested 50,000 yuan to set up a firm, and 806 members bought 14.73 million yuan of shares from rural credit cooperatives and other financial institutions.

The CBRC issued relevant documents in June 2005 and January 2006 respectively to launch the investigation, in an effort to ensure probity and the just supervision of the working staff.

The major focuses of the inquiry included non-consuming personal loans of the staff members themselves, and the members vouching or introducing loans for other people, involving business, and buying shares from rural credit cooperatives.

Source: Xinhua