Former CDB Henan Branch Head Gets 10 Years in Prison

What’s new: Fu Xiaodong, former Henan branch head of China Development Bank (CBD), was sentenced to 10 years in prison for taking 4.3 million yuan ($625,670) of bribes, according to a court in northwestern China’s Ningxia autonomous region.

The court found that Fu accepted bribes in 22 transactions between 2007 and 2020 during his tenure in senior positions at the policy lender's branches in Ningxia and in central China’s Henan province. He received the bribes in exchange for favors such as securing loans, business contracts and promotions for others.