Liu Jinbao

Liu Jinbao
Born	China
Occupation	Banker
Years active	1976–2003
Known for	CEO of Bank of China (Hong Kong) Limited; vice-chairman of Bank of China

Liu Jinbao (刘金宝) held the positions of CEO at Bank of China (Hong Kong) Limited and vice-chairman of Bank of China between 1998 and 2003.

Biography

After graduating from the University of International Business and Economics (Beijing) in 1976, Liu immediately began his career at Bank of China. In 1977, he was posted to London. Over the period from 1981 to 1997, he climbed the ranks in Shanghai, ultimately becoming general manager there in 1994. He then took charge of the bank’s Hong Kong branch in 1997. In September 1998, Liu was appointed as a director of Bank of China.

Controversies

Investigations by both Chinese and American authorities commenced in 2000 concerning illicit lending activities during Liu’s Shanghai tenure, involving politician Chau Ching-ngai. In May 2003, Liu was reassigned to Beijing as vice-chairman but was subsequently removed after being implicated in "economic crimes" related to his time in Shanghai.

He and three other senior executives faced allegations of unauthorized personal appropriation of Bank funds before BOCHK’s formation, with estimates suggesting approximately HK$30 million was involved. Liu stepped down from Hong Kong’s Exchange Fund Advisory Committee in May 2003 and was ousted from the Bank of China board by February 2004.

The Chinese judicial system sentenced him to a suspended death sentence with a two-year reprieve. In 2006, Liu confessed to spending close to £300,000 on cosmetic surgery for his mistress so she would resemble his former high school girlfriend.

Publications

• Echoes from finance, published in 1994