Translation and Commentary: Jenny Ball
Editor: yuddy

(Web picture)

Chen Yaoming, the former director of China Banknote Printing and Minting Corporation (CBPMC), was recently accepted for arrest after “voluntarily surrendering himself.” It was stated on the Internet after Chen Yaoming’s arrest that he “privately manufactured 2 trillion banknotes of the same numbers.”

On January 28th, the Chinese Communist Party’s (CCP) Supreme People’s Procuratorate reported that Chen Yaoming, a former member of the party committee and director of the CBPMC, had been arrested by the Dingzhou City Procuratorate in Hebei Province on suspicion of receiving bribes. The case is still being investigated.

On December 8th 2021, Chen Yaoming was accused of significant violations of discipline and the law, according to the website of the CCP’s Central Commission for Discipline Inspection (CCDI), and he voluntarily surrendered himself and is under investigation.

Following Chen Yaoming’s arrest, it was revealed that he had “privately produced 2 trillion banknotes with identical numbers.” It has been forwarded to a number of major websites and media outlets in mainland China. After more than ten days, the Central Bank’s official website claimed that this was a “vile rumor” and that the case had been reported. Instead of dispelling rumors, this “rumor-defying” formal announcement has spread rumors even further.

(Comment: When the Communist Party of China (CCP) formally refutes such “rumors,” Chinese citizens can be convinced that the “rumor” in question is true.)

Chen Yaoming is 57 years old and a native of Hengyang, Hunan, according to public records. Chen Yaoming worked as a cadre in the CBPMC’s Comprehensive Planning Department and as the deputy director of the Shanghai Banknote Printing Factory during the first 17 years of his career.

Chen Yaoming joined the Banknote Printing Corporation in August 2001 and served as a member of the Communist Party Committee and the CBPMC’s Deputy General Manager.

The CBPMC was founded in July 1984 and reports directly to the CCP’s Central Bank. For the past two years, the company has been under investigation.

He Lin, the previous general manager of CBPMC who had been retired for nearly three years, was also arrested on suspicion of significant violations of discipline and the law before Chen Yaoming was examined.

He Lin served as the Shanghai Banknote Printing Factory’s deputy director on several occasions. Chen Yaoming was his deputy general manager during his time as CBPMC’s general manager, and the two worked together for ten years.

The China Securities Regulatory Commission, the China Banking and Insurance Regulatory Commission, the Central Bank, and other regulatory agencies, as well as the Shanghai and Shenzhen Stock Exchanges, state-owned banks, and insurance companies, were all under investigation by the CCDI for two months in October 2021. The CCDI stated in January of this year that the central bank should “listen to the (CCP) party and obey the Party’s directions.”

Mou Shangang, the former secretary of the CCP Committee and director of the Central Bank Service Center, was investigated for major violations of discipline and the law following Chen Yaoming’s arrest on January 4th of this year. From November 2017 to December 2021, Mu Shangang was the general manager, party secretary, and chairman of China Gold Coin Corporation.

Cai Esheng, the former vice chairman of the China Banking Regulatory Commission who was ousted in July last year, was expelled from the party and transferred to the Prosecutor’s Office for investigation and prosecution, according to the CCDI’s website.

Comment: How many senior CCP leaders at various levels have been arrested, according to the CCP? Those mentioned in the article include Meng Jianzhu, Secretary of the Political and Legal Committee, Sun Lijun, Minister of Public Security, Cai Esheng, former vice chairman of the China Banking Regulatory Commission, and Chen Yaoming, former director of the China Banknote Printing and Minting Corporation…

Chinese people laughed: even lower-ranking CCP officials, like as village chiefs and section chiefs, would not object if they were sentenced to death.

China is ruled by a criminal underworld.

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