阿尔法工场研究院·2025-06-03 16:19Core Viewpoint - The article discusses the recent fall of several high-ranking officials in major state-owned banks in Zhejiang, highlighting a potential systemic issue of corruption within the financial sector in the region [2][4][6]. Group 1: Recent Events - Four bank presidents from major state-owned banks in Zhejiang have been investigated for serious violations of discipline and law, including the former president of the Industrial and Commercial Bank of China (ICBC) Zhejiang branch, Shen Rongqin [2][4]. - The investigation of these officials coincides with the previous investigation of former Vice Governor Zhu Congjiu, who was sentenced to life imprisonment for bribery [4][6]. Group 2: Corruption Network - Shen Rongqin's connections with Zhu Congjiu suggest a deeper, hidden network of financial corruption within the Zhejiang financial system [6][8]. - The phenomenon of multiple bank presidents being implicated in corruption may be linked to the case of Tang Yijun, involving the facilitation of loans through a small loan company controlled by a listed company [6][8]. Group 3: Alumni Influence - Zhejiang Financial School, a significant training ground for banking talent, has produced over 5,000 alumni who have become bank presidents, creating a powerful alumni network within the financial system [8][12]. - The alumni network has led to a closed loop of talent and power, where early graduates ascend to leadership positions and subsequently assist newer graduates, fostering a "financial aristocracy" [12][15]. Group 4: Risks of Networking - The close-knit alumni relationships in the financial sector can lead to a culture of "relationship corruption," where personal connections overshadow regulatory compliance [14][15]. - The concentration of decision-making power within a small group of individuals from the same educational background increases the risk of corrupt practices [15][19]. Group 5: Need for Reform - To combat the entrenched "alumni-power-capital" cycle, the financial sector must transition from a "relationship-based" to a "rule-based" system, enhancing transparency and regulatory compliance [19][20]. - Rebuilding trust through institutional governance is essential for the Chinese financial system to overcome hidden networks and achieve sustainable development [20].