Bank of China evaded billions of yuan in tax and issued illegal loans, audit finds

Two of China’s top state-owned banks, which are among the world’s largest financial institutions, have evaded billions of yuan in tax and issued illegal loans, according to the country’s national auditor.

The Bank of China, one of the nation’s “big four” lenders, evaded paying 2.4 billion yuan (US$352 million) in tax between April 2023 and […] ...