Hu Huaibang

Hu Huaibang
Hu Huaibang
	胡怀邦
Chairman of the China Development Bank
	In office; April 2013 – September 2018
Preceded by	Chen Yuan
Succeeded by	Zhao Huan
Chairman of the Bank of Communications
	In office; September 2008 – April 2013
Preceded by	Jiang Chaoliang
Succeeded by	Niu Ximing
Personal details
Born	September 25, 1955; Luyi County, Henan, China
Political party	Communist Party of China (1981–2020, expelled)
Spouse(s)	Xue Yingjuan
Children	1 son
Alma mater	Jilin University
Occupation	Politician, banker
Chinese name
Traditional Chinese	胡懷邦
Simplified Chinese	胡怀邦
Transcriptions
Standard Mandarin
Hanyu Pinyin	Hú Huáibāng

Hu Huaibang (Chinese: 胡怀邦; born 25 September 1955) is a Chinese former banker. He served as Chairman of the China Development Bank, a Fortune Global 500 company. He was expelled from the Communist Party of China in January 2020 and sentenced to life in prison in January 2021 for corruption.

Career

He graduated with a bachelor's degree in economics from Jilin University. He then received a PhD in Economics from the Shannxi Institute of Finance and Economics in 1999.[1] In 2000 he began working for the People's Bank of China, the central bank. He was posted in Chengdu, then Xi'an. He then joined the China Banking Regulatory Commission as a discipline official and a member of the party committee. In September 2008 he became chairman of the Bank of Communications. In April 2013 he was named chairman of the China Development Bank.[2][3][4]

Hu was an alternate member of the 18th Central Committee of the Communist Party of China.

Investigation and conviction

On July 31, 2019, he was placed under investigation for alleged "serious violations of (Communist Party) discipline and law", said in a statement by the Central Commission for Discipline Inspection, the Chinese Communist Party's top anti-graft agency.[5] Allegedly involved in the corruption cases of Wang Sanyun and Ye Jianming, he was expelled from the Communist Party on January 11, 2020.[6][7]

In January 2020 he was placed under investigation by the Central Commission for Discipline Inspection.[8]

On January 7, 2021, China Central Television reported that Hu had been convicted and given a life sentence for corruption by the Chengde Intermediate People's Court. The court described this as a light punishment due to mitigating circumstances: Hu had confessed and cooperated with prosecutors. The court also ordered the seizure of Hu's assets and indicated that Hu had already returned the 85.5 million RMB that he had received in bribes.[8]

Personal life

Hu married Xue Yingjuan (薛迎娟), their son, Hu Xiaodong (胡啸东; born 1982), once served as deputy general manager of the Asset Management Division of Hengfeng Bank.[9] On February 12, Hu was arrested and Hu's case had been transferred to the procuratorate for further investigation and prosecution.[10]

References

"Executive Profile* Huaibang Hu". Bloomberg. Retrieved 31 July 2015.
xinhua (31 July 2019). "Former chairman of China Development Bank under investigation". chinadaily. Retrieved 6 October 2019.
Zhou Xin (31 July 2019). "China's ex-'super bank' chief faces probe as Beijing's financial sector corruption crackdown continues". South China Morning Post. Retrieved 6 October 2019.
Tony Munroe; Cheng Leng; Engen Tham; Min Zhang (31 July 2019). "Ex-chairman of China Development Bank under probe by graft-buster". reuters. Retrieved 6 October 2019.
Zhang Yuzhe; Lin Jinbing (31 July 2019). "Former China Development Bank Boss Investigated for Corruption". caixinglobal. Retrieved 6 October 2019.
"Former chairman of China Development Bank expelled from CPC". chinadaily.com. 11 January 2020. Retrieved 14 February 2020.
Hou Runfang (侯润芳) (11 January 2020). 国开行原董事长胡怀邦被开除党籍曾涉王三运、叶简明案. bjnews.com.cn (in Chinese). Retrieved 12 January 2020.
"China jails former China Development Bank chief for life for graft". South China Morning Post. 7 January 2021. Retrieved 7 January 2021.
Zhang Yuzhe (张宇哲); Ji Tianqin (季天琴); Huang Rong (黄荣) (5 August 2019). 特别报道胡怀邦关系图谱：华信海航恒丰连环炸. sina (in Chinese). Retrieved 12 January 2020.
Cheng Leng; Brenda Goh (13 February 2020). "China arrests former China Development Bank chairman: media". reuters.com. Retrieved 14 February 2020.

Government offices
Previous: Jiang Chaoliang	Chairman of the Bank of Communications 2008-2013	Next: Niu Ximing (牛锡明)
Previous: Chen Yuan	Chairman of the China Development Bank 2013-2018	Next: Zhao Huan (赵欢)

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[Bloomberg-1] "Executive Profile* Huaibang Hu". Bloomberg. Retrieved 31 July 2015.

[2] xinhua (31 July 2019). "Former chairman of China Development Bank under investigation". chinadaily. Retrieved 6 October 2019.

[3] Zhou Xin (31 July 2019). "China's ex-'super bank' chief faces probe as Beijing's financial sector corruption crackdown continues". South China Morning Post. Retrieved 6 October 2019.

[4] Tony Munroe; Cheng Leng; Engen Tham; Min Zhang (31 July 2019). "Ex-chairman of China Development Bank under probe by graft-buster". reuters. Retrieved 6 October 2019.

[5] Zhang Yuzhe; Lin Jinbing (31 July 2019). "Former China Development Bank Boss Investigated for Corruption". caixinglobal. Retrieved 6 October 2019.

[6] "Former chairman of China Development Bank expelled from CPC". chinadaily.com. 11 January 2020. Retrieved 14 February 2020.

[7] Hou Runfang (侯润芳) (11 January 2020). 国开行原董事长胡怀邦被开除党籍曾涉王三运、叶简明案. bjnews.com.cn (in Chinese). Retrieved 12 January 2020.

[China_jails_former_China_Development_Bank_chief_for_life_for_graft-8] "China jails former China Development Bank chief for life for graft". South China Morning Post. 7 January 2021. Retrieved 7 January 2021.

[9] Zhang Yuzhe (张宇哲); Ji Tianqin (季天琴); Huang Rong (黄荣) (5 August 2019). 特别报道胡怀邦关系图谱：华信海航恒丰连环炸. sina (in Chinese). Retrieved 12 January 2020.

[10] Cheng Leng; Brenda Goh (13 February 2020). "China arrests former China Development Bank chairman: media". reuters.com. Retrieved 14 February 2020.