Ouyang is latest former CDB executive to face corruption probe
The Central Commission for Discipline Inspection announced Sunday that Ouyang Weimin was being investigated by it and the National Commission of Supervision, the Associated Press reported. The announcement did not specify the nature of the alleged violations.
Ouyang began his career and joined the Chinese Communist Party in 1986, spending much of his earlier career at the People’s Bank of China, according to state media China Daily. He served as vice-governor of Guangdong, the economic powerhouse province neighboring Hong Kong, before becoming president of the China Development Bank.
The bank has been the subject of multiple corruption probes, according to the South China Morning Post. Former vice president He Xingxiang is the third senior CDB executive to face a corruption probe during President Xi Jinping’s anti-corruption drive, the South China Morning Post reported. In June, Yu Xiaoping, a former PICC vice president who previously spent 16 years at the development bank, was placed under investigation, according to Caixin Global, which reported she was the third former CDB executive investigated.