Former Policy Bank Official Falls Under Investigation
What’s new: Yang Degao, a former deputy head of the Hubei branch of China Development Bank (CDB), the top policy lender in the country, has been put under investigation by anti-graft watchdogs on suspicion of serious violations of law and Communist Party discipline, according to an official statement (link in Chinese) on Tuesday.
What’s the background: The investigation is being carried out by two teams: one dispatched to the bank by the country’s top anti-graft agency, and the other from the central Hubei province’s top anti-graft agency. The details of why he came under investigation remain unclear.
Yang has been retired since September 2018, according to the statement.
Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full statement in Chinese, click here.
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