Ex-CDB official arrested on bribery allegations

A former vice president of China Development Bank, He Xingxiang, was arrested on suspicion of accepting bribes, China's Supreme People's Procuratorate said yesterday, amid a series of probes into officials at state financial firms.

He is also suspected of issuing financial bills in violation of regulations, illegally issuing loans and concealing overseas deposits, said a notice on the Procuratorate's website.

The Beijing Municipal People's Procuratorate made the decision "in recent days" to arrest He after an investigation by the National Supervisory Commission, the notice said.

China's top graft-busting agency, the Central Commission for Discipline Inspection, announced in September that He was under investigation, the latest official in a series of corruption probes.

He, born in 1963, worked at state lenders Bank of China and Agricultural Development Bank of China before serving as a member of the Communist Party Committee at policy bank CDB.