Key facts
- Ouyang Weimin, former president of the China Development Bank, is under investigation for serious disciplinary and legal violations.
- Li Jiping, a former vice president of the China Development Bank, is also under investigation for severe violations of discipline and law.
- Li Jiping was expelled from the Chinese Communist Party in August 2024.
- Xu Yiding, a vice president of the Agricultural Development Bank of China, is under investigation for suspected corruption.
- A former vice president of the China Development Bank was sentenced to 12 years in prison for accepting bribes.
Ouyang Weimin, the former president of the China Development Bank, has been placed under investigation for suspected serious disciplinary and legal violations, according to China's Central Commission for Discipline Inspection (CCDI). The announcement on Sunday marks the latest development in an ongoing anti-graft campaign targeting officials within China's policy lending institutions.
This investigation follows similar probes into other high-ranking bankers. Li Jiping, a former vice president of the China Development Bank, is also under investigation for severe violations of discipline and law and was expelled from the Chinese Communist Party in August 2024. His former superior, Hu Huaibang, was sacked for graft in 2019, and two other former vice governors, Zhou Qingyu and Wang Yongsheng, were disgraced in 2023.
Furthermore, Xu Yiding, a vice president at the Agricultural Development Bank of China, another of the country's policy lenders, is currently under investigation for suspected corruption. The CCDI stated that Xu was being probed for "serious violations of discipline and law." This intensified scrutiny of policy bank executives follows a period of increased focus on lending practices and potential corruption within these institutions.
In a separate but related case, a former vice president of the China Development Bank was sentenced to 12 years in jail and fined for accepting bribes in 2024. These actions underscore Beijing's continued efforts to combat corruption within its financial sector.