Bank of China evaded billions of yuan in tax and issued illegal loans, audit finds (opens original article in a new tab)

A state audit found Bank of China evaded billions in taxes and issued illegal loans, while Agricultural Bank of China and China Everbright Group faced criticism for financial misconduct

• Bank of China evaded 2.4 billion yuan in tax between April 2023 and August 2025 by using employee contributions to private equity funds
• Agricultural Bank of China issued 11 billion yuan in illegal loans for farmland projects between December 2021 and August 2025
• China Everbright Group was criticized for management failures including lack of control over subsidiaries and brand abuse
• Social media users expressed shock and called for fines and recovery of misused funds