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Caixin

Another exec at China's biggest policy bank accused of graft

Scandal-ridden CDB attracts more heat from government watchdogs

A former operating chief of China Development Bank, the nation's biggest policy lender, has been placed under investigation by the Communist Party's graft-buster on suspicion of taking bribes worth millions of yuan, sources with knowledge of the matter told Caixin.

Zhang Maolong, 68, is being investigated by the Central Commission for Discipline Inspection (CCDI) and the local anti-corruption agency in Beijing, according to an official statement released on Monday. The corruption watchdogs said Zhang was being investigated for "suspicion of serious violation in [party] discipline and law" -- a common euphemism for graft -- without giving details.

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