On January 4, 2019, Caixin.com reported that Lei Zhiqiang, the former chairman of Gansu Rural Credit Cooperatives, was suspected of accepting bribes and having a huge amount of property of unknown origin. The first instance trial was held in Qingyang City, Gansu Province.

On December 18, 2018, the Qingyang City Intermediate Court held a hearing on Lei Zhiqiang's case in the Heshui County Court.According to the indictment, from the 1990s to 2017, Lei Zhiqiang took advantage of his position to seek benefits for others and close relatives in the process of loan approval, acceptance of bills of exchange, credit business, and cadre selection.The total amount of personal property is 241.606833 million yuan, and another 81.986058 million yuan of family property cannot be explained.

In April 2017, the Gansu Provincial Commission for Discipline Inspection announced that Lei Zhiqiang, the former chairman and former deputy secretary of the Party Committee of the Gansu Rural Credit Cooperative Union (at the departmental level), was suspected of serious violations of discipline and was subject to organizational review.In September of the same year, Lei Zhiqiang was double opened, and in February 2018, he was prosecuted by the Qingyang City Procuratorate.

According to the public resume, Lei Zhiqiang’s official career has been in Gansu. He used to be the director of the Finance Bureau and party secretary of Tianshui City, Gansu Province, the deputy mayor of Tianshui City, and a member of the party group of the municipal government. In August 2005, he was transferred to the Gansu Rural Credit Cooperative Union.Served as deputy secretary of the party committee and secretary of the disciplinary committee, and has been working in the provincial association for 12 years, serving as chairman and secretary of the party committee until he was investigated.

According to China News Weekly, after Lei Zhiqiang was sacked, many people in the banking system of the Rural Credit Cooperatives in Gansu Province had accidents one after another, and banks in the local Rural Credit Cooperatives system were involved in many illegal lending issues.

In addition, Lei Zhiqiang's son had business dealings with Wang Chang, the son of Wang Sanyun, the former secretary of the Gansu Provincial Party Committee.After the incident of Lei Zhiqiang, his son was also arrested.Certain second-generation officials, represented by Wang Chang and others, have huge power in the local financial market. Lei Zhiqiang’s son’s projects are very big. It is rumored that he is in charge of the financial circles in Gansu.100 million, just like his own bank.

Resume of Lei Zhiqiang

Lei Zhiqiang, male, Han nationality, was born in February 1958 in Wushan, Gansu Province. He joined the Party in November 1991 and started working in August 1980. He holds a university degree from the Central Party School and is an accountant.

1978.10--1980.08 Gansu Finance and Trade School majoring in finance

1980.08--1990.06 Tianshui District Finance Department, Gansu Province, Deputy Section Chief and Section Chief of Tianshui Finance Bureau

1990.06--1992.12 Deputy Director of Finance Bureau of Tianshui City, Gansu Province

1992.12--1994.03 Director of Finance Bureau of Tianshui City, Gansu Province

1994.03--1999.01 Director and Secretary of the Party Leadership Group of Tianshui City Finance Bureau, Gansu Province (During the period: 1993.09--1995.11, he studied in the finance major of Lanzhou Business School; 1993.09--1995.12, the Central Party School Correspondence College, majored in party and government management)

1999.01--1999.06 Deputy Mayor of Tianshui City Government, Gansu Province

1999.06--2005.08 Deputy Mayor of Tianshui Municipal Government, Gansu Province, member of the Municipal Party Committee (During the period: 1998.09--2000.06, studied in the finance professional graduate class of the Research Institute of the Ministry of Finance)

2005.08--2007.06 Deputy Secretary of the Party Committee and Secretary of the Disciplinary Committee of the Rural Credit Cooperative Union of Gansu Province

2007.06--2009.11 Chairman, Secretary of the Party Committee, Secretary of the Disciplinary Committee

2009.11--2014.10 Chairman and Secretary of the Party Committee of Gansu Rural Credit Cooperative Association

2014.10--2017.04 Chairman and Deputy Secretary of the Party Committee of Gansu Rural Credit Cooperative Association