China's Communist Party expels ex-chairman of China Development Bank

A former chairman of the China Development Bank, Hu Huaibang, has been expelled from the country's ruling Communist Party for serious violations of discipline, the party's graft watchdog said on Saturday. An investigation found that Hu had "lost his ideals and convictions" and had committed violations such as using his post to illegally benefit others, abusing his power, and allowing his family members to "complain about property", said the statement by the Central Commission for Discipline Inspection (CCDI). The CCDI also said it would seize his illegal income and transfer his case to the judicial bodies.

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