Former chairman of China Development Bank under investigation

Hu Huaibang, ex-chairman of the China Development Bank, delivers a speech during the 2017 China Banking Development Forum in Beijing on August 24, 2017. [File Photo: IC]

Hu Huaibang, ex-chairman of the China Development Bank (CDB), has been put under investigation for suspected severe discipline and law violations, an official statement said Wednesday.

Hu, also former secretary of the CDB committee of the Communist Party of China (CPC), is being investigated by the CPC Central Commission for Discipline Inspection and the National Supervisory Commission, according to the statement.