Workers demolish the gateway of the China Development Bank on Saturday. (Photo/Xinhua)
The ancient-style archway by the main entrance of the China Development Bank's headquarters in Beijing was ordered demolished by the government for "inconsistent" building and lighting along the capital's main avenue, the bank told the Xinhua News Agency.
Xinhua reported that demolition work began Saturday and ended Sunday.
Rumors about why the gateway was brought down have been circulating on social media, with some saying it violated feng shui, a superstitious Chinese architectural practice, while others said the gateway was a "political mistake."
Xinhua quoted an anonymous staff member of the bank's public relations department as saying the bank "had rectified the gateway in accordance with feedback from the inspection team of the Communist Party of China's Central Commission for Discipline Inspection (CCDI), as well as landscape and lighting requirements along Chang'an Avenue."
The top disciplinary body inspected the State-owned bank's Party committee in November and December last year. At a February meeting, the inspection team reported its findings on corruption at the bank, including extravagance and waste, the building of luxury hotels and office buildings and "weakening Party leadership," according to a report on the CCDI website.
