Ex-Vice President of China Development Bank arrested on corruption charges

He Xingxiang, a former member of the Communist Party Committee and vice president of China Development Bank, was arrested on corruption charges, according to China's Supreme procuratorate's report on February 13.

According to the prosecution's charges, He Xingxiang is suspected of four crimes -- the crime of accepting bribes, the crime of issuing financial documents in violation of regulations, the crime of illegally granting loans, and the crime of concealing overseas deposits.

China Development Bank comes under the direct jurisdiction of the State Council and the reports mentioned that his acts "caused major financial risks".

Earlier Cai Esheng, a former senior government official at China's banking regulatory commission (CBRC), has been arrested by Supreme People's Procuratorate on corruption charges, according to a statement published by China's Supreme People's Procuratorate on Thursday.

Notably, since February 9, every day a "tiger", those whose rank is above or equivalent to that of Deputy Provincial or Deputy Ministerial level officials, have been either prosecuted or arrested.

( With inputs from ANI )