Former vice president of China Development Bank Li Jiping was arrested on suspicion of bribery. Li Jiping, who has been retired for 8 years, was taken down in March of this year.
On August 26, the Supreme Supervisory Commission of the Communist Party of China announced on its website that the investigation into Li Jiping, former member of the party committee and vice president of China Development Bank, on suspicion of bribery had concluded. He has been transferred to the prosecutor’s office for review and prosecution. Recently, the Henan Provincial Prosecutor’s Office, designated by the Supreme Prosecutor’s Office, made the decision to arrest him for the crime of bribery.
Li Jiping was officially taken down on March 13 of this year and on August 1, he was expelled from the party and transferred to the judiciary.
At the time, the Central Commission for Discipline Inspection and National Supervision Commission of the Communist Party of China stated that Li Jiping extensively interfered with and intervened in the recruitment and promotion of employees in financial institutions, polluting the political environment. He also accepted large amounts of gifts, illegally owned shares of non-listed companies, and engaged in illicit money and sex transactions. He used his position to help others profit in areas such as loans, financing, and business operations, and illegally accepted huge sums of money.
Li Jiping, aged 69 and a native of Dalian, Liaoning Province, began working at China Development Bank in March 1994, and served as the branch president of Sichuan Province. From September 2008 to January 2016, he held the position of vice president of China Development Bank.
After stepping down in 2016, Li Jiping continued to attend public events multiple times. For instance, he attended the Sixth China Enterprise Globalization Forum in November 2019 and the Hainan Free Trade Port International Investment (Sanya) Summit Forum in September 2020 as the former vice president of China Development Bank.
Prior to his downfall, in December of last year, Li Jiping delivered a video speech in his capacity as the former vice president of China Development Bank and chairman of the China Development Financial Lecture Committee.
In recent years, several officials from China Development Bank have been taken down.
On January 12 of this year, former branch president of China Development Bank’s Jilin branch, Zhang Chi, was officially taken down.
On January 11, former vice president of China Development Bank Wang Yongsheng was transferred to the prosecutor’s office for review and prosecution on suspicion of bribery. On July 18, Wang Yongsheng’s bribery case went to trial. The Jilin City Prosecutor’s Office accused him of accepting bribes amounting to over 23.51 million yuan. Wang Yongsheng confessed in court, and the verdict date was set by the judge.
On June 14, the trial for deputy president of China Development Bank Zhou Qingyu’s bribery case took place. The Changchun City Prosecutor’s Office accused him of accepting bribes totaling over 67.43 million yuan. Zhou pled guilty in court, and the judgment date was set.
In addition, former chairman of the board of supervisors at China Development Bank, Yao Zhongmin, former chairman of the board Hu Huaibang, and vice president He Xingxiang have all been taken down.