On Friday, a report from China’s official Xinhua news agency said, He Xingxiang, a former vice president of China Development Bank (CDB), has been charged for taking bribes.

“He has also been charged for issuing financial bills in violation of regulations, illegally issuing huge amounts of loans and concealing overseas deposits,” said Xinhua.

Born in 1963, He, worked at state lenders Bank of China and Agricultural Development Bank of China before serving as a member of the Communist Party Committee at policy bank CDB.

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