Li Jiping, a former vice president of China Development Bank, has been expelled from the Communist Party of China (CPC) for suspected severe violations of discipline and laws. The decision to expel Li was made following an investigation by the CPC Central Commission for Discipline Inspection and the National Commission of Supervision, with the approval of the CPC Central Committee, as reported by state news agency Xinhua.
The investigation revealed a disturbing pattern of misconduct by Li. He was found to have violated the Party’s eight-point decision on enhancing conduct by attending banquets in contravention of established rules. Furthermore, Li was accused of violating organizational principles by interfering with and manipulating the recruitment and promotion process at financial institutions, leading to a detrimental impact on the political environment.
The investigation also uncovered that Li accepted substantial sums of money as gifts, contravened regulations by owning shares in non-listed companies, and crossed the line of integrity. The probe also revealed that Li engaged in money-for-sex trades, misused his power for personal gain, and leveraged his position to benefit others in areas such as loan financing and business operations, in exchange for illicit payments and gifts.
As a result of these findings, all of Li’s illegally acquired assets will be confiscated. The case involving his suspected criminal activities will be transferred to prosecutorial authorities for review and prosecution.
