Major Chinese bank’s vice-president detained

According to China’s and Hong Kong’s SCMP, Yang Kun, executive vice-president of Agricultural Bank of China was brought away by the discipline inspection authority to “assist investigation”.

According to SCMP, that has been confirmed by the Bank’s filing yesterday to Hong Kong’s stock exchange.

Sources say one of his relative has also been brought away to receive investigation.

Yang’s case began with his involvement in a Beijing property entrepreneur’s gambling but sources say he is suspected to have lots of other problems.

Quite a few of those familiar with Yang are surprised at the news as Yang was a rising star with the prospects of rising to a top executive post in a major state-owned bank.