CDB ex-chief ousted from Party

Hu Huaibang, ex-chairman of the China Development Bank, has been expelled from the Communist Party of China for serious violations of Party discipline and laws, the top anti-graft body announced on Saturday.

Hu, also former secretary of the CDB committee of the CPC, lost his ideals and convictions and covertly refused to implement the Party’s major decisions and plans in practice while appearing to be obedient, according to a statement issued by the CPC Central Commission for Discipline Inspection and the National Supervisory Commission.

An investigation found that Hu violated the eight-point code on Party and government conduct, sought profits for others in personnel promotion by taking advantage of his posts, wantonly traded power for money and connived with his relatives, allowing them to use his influence to seek personal gains, the statement said.

Hu’s qualification for delegate to the 19th CPC National Congress was terminated.