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

Hu Huaibang, former secretary of the Communist Party of China and chairman of the China Development Bank, who was expelled from the party and an investigation was opened against him in a graft case, has pleaded guilty on July 30. According to reports, Hu has pleaded guilty in the $12 million graft case as he was accused of receiving money between 2009 to 2019 using his position as the chairman of the 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 other countries to set up an auto finance company, increase the bank credit lines and illegally received money and goods during his tenure as CDB chairman. During the hearing on Thursday, more than 30 people were present inside the courtroom, including the national and provincial representatives of the 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 the anti-corruption campaign to target his adversaries inside the party. Xi Jinping is known for silencing his critics through various means, including through powers vested upon him by the constitution. 

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