China: Former CPC member and top banker pleads guilty in corruption case

Hu Huaibang, former secretary of Communist Party of China and chairman of China Development Bank, who was expelled from party and an investigation was opened against him in a graft case, has pleed guilty on July 30. According to reports, Hu has pleed guilty in $12 million graft case as he was accused of receiving money between 2009 to 2019 using his position as chairman of state council bank. Hu was arrested in February this year and his corruption case was being heard at a court in Chengde city of Hebei province.

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Hu was caught and was subsequently being investigated after Chinese President Xi Jinping started a campaign against corrupt government officials last year. According to reports, Hu used his position and staff in or countries to set up an auto finance company, increase bank credit lines and illegally received money and goods during his tenure as CDB chairman. During hearing on Thursday, more than 30 people were present inside courtroom, including national and provincial representatives of People's Congress. 

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Xi's anti-corruption campaign

Media reports suggest that more than one million government officials have been caught or punished in corruption cases since Xi Jinping launched his anti-corruption campaign last year. Some reports also claim that Xi Jinping has used anti-corruption campaign to target his versaries inside party. Xi Jinping is kwn for silencing his critics through various means, including through powers vested upon him by constitution. 

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(Im Credit: Wikimedia Commons)