Ex-VP of China Development Bank Booted From Party for ‘Rampant Abuse’ of Power

A former vice president of China Development Bank, the nation’s largest policy lender, has been expelled from the Communist Party for serious violations of law and party discipline, including “rampant abuse” of his supervisory and disciplinary powers, according to the nation’s top antigraft body.

The Central Commission for Discipline Inspection (CCDI) announced the conclusion of the investigation into Zhou Qingyu on Thursday, six months after he was placed under an antigraft probe in May.