China's Communist Party expels former China Development Bank chairman

Hu Huaibang, ex-chairman of the China Development Bank (CDB), has been expelled from the Communist Party of China (CPC) for suspected severe discipline and law violations, an official statement said Saturday.

The CPC Central Commission for Discipline Inspection and the National Supervisory Commission said in a statement that Hu, who is also former secretary of the CDB committee of the Communist Party of China (CPC), severely violated the Party discipline, took bribes and committed duty crimes.

Hu's qualification as a delegate of the 19th CPC National Congress was also terminated.