What's the problem with Shen Renkang?

On February 6th, it was reported from the Supervision Committee of Zhejiang Provincial Commission for Discipline Inspection that Shen Renkang, former Party Secretary and Chairman of Zheshang Bank Co., Ltd., was suspected of serious violation of discipline and law, and was currently under disciplinary review and supervision investigation by the Supervision Committee of Zhejiang Provincial Commission for Discipline Inspection.

Born in 1963, Shen Renkang used to be a member of the Standing Committee of Lishui Municipal Committee, deputy mayor, deputy secretary of Lishui Municipal Committee, secretary of the Political and Legal Committee, deputy secretary and mayor of Quzhou Municipal Committee, secretary of the Party Committee and chairman of Zheshang Bank Co., Ltd.

According to reports, many insiders have analyzed that Shen Renkang's problems have some specific directions, which are inseparable from the controversial Zheshang industry and finance. Before Shen Renkang, many senior executives of Zheshang Bank and Zheshang Industrial Finance were investigated, including Bing Xu, former vice president of Zheshang Industrial Finance. According to reports, during Shen Renkang's eight years as the chairman of Zheshang Bank, the aggressive play of "investment-loan linkage" between Zheshang Bank and Zheshang Bank's capital and industry-finance led to the rapid expansion of Zheshang Bank's assets, but it also brought controversy, which laid a hidden danger for the exposure of non-performing assets in the following years.

In addition to lending heavily to the real estate industry, Zheshang Bank has also been deeply involved in executive corruption in recent years. At present, it is undergoing disciplinary review and supervision investigation by the Zhejiang Provincial Commission for Discipline Inspection.