Former China Development Bank chief under corruption probe

Ouyang Wei Min, the former head of China Development Bank, has been placed under investigation for serious disciplinary and legal violations. He was sentenced to 12 years in prison and fined for accepting bribery. Amid the ongoing anti-corruption campaign led by President Xi Jinping, the Chinese Communist Party dismissed several senior officials last week, including Ma Shengrui, who was considered a prominent political figure, on charges of corruption and abuse of power. This marks the most extensive cleansing effort since the 1980s.

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