Former Deputy Director of the State Development Bank of China charged with bribery
The former deputy director of the State Development Bank of China, He Xingxiang, has been charged with accepting bribes on an especially large scale, according to the Xinhua news agency.
He is also suspected of illegally issuing financial documents and providing loans, as well as hiding deposits in foreign banks.
The relevant charges were brought by the Third People's Procuratorate of Beijing City on behalf of the Supreme People's Procuratorate of the People's Republic of China. The case was referred to the Beijing Third Intermediate People's Court.
He Xingxiang was accused of using his positions to promote benefits for enterprises and third parties, for which he received huge sums of money and material values from them.
He is also accused of issuing financial documents in serious violation of the rules and issuing loans on a particularly large scale in violation of government regulations, which led to particularly large losses.
The indictment also alleges that He Xingxiang hid large deposits in overseas banks.
The prosecutor's office announced to the accused his procedural rights, interrogated him and listened to the opinion of the defense counsel.
Earlier in January, He Xingxiang was expelled from the CCP and fired from his civil service for serious violations of party discipline and law. This decision was made following an investigation by the CCP Central Commission for Discipline Inspection and the State Supervisory Committee under the authority of the CCP Central Committee.