SHANGHAI - A former China Development Bank (CDB) senior executive has been expelled from China’s Communist Party after an investigation found him guilty of “disciplinary issues,” the party’s graft buster said Thursday.
Guo Lin, a former member of CDB’s administrative committee, was found to have seriously violated integrity rules during his time as head of the bank’s Tianjin branch, the Central Commission for Discipline Inspection said in a statement on its website Thursday.
Guo did not pay private contractors who renovated the bank’s office building for renovations to his own home and sold his home to a bank loan client at a price clearly above market value, the statement said.
He was also fined and his retirement benefits were revoked, the statement said.
China Development Bank is the largest of China’s policy banks, which disburse funds to support government policy.