He Xingxiang

In this Chinese name, the family name is He.
He Xingxiang
何兴祥
Vice Governor of China Development Bank
In office
October 2014 – September 2021
GovernorOuyang Weimin [zh]
Personal details
BornNovember 1963 (age 61)
Shaoxing, Zhejiang, China
Political partyChinese Communist Party
Alma materZhejiang Financial College
Chinese name
Simplified Chinese何兴祥
Traditional Chinese何興祥
Transcriptions
Standard Mandarin
Hanyu PinyinHé Xīngxiáng

He Xingxiang (Chinese: 何兴祥; born November 1963) is a former Chinese banker who served as vice governor of China Development Bank from 2014 to 2021. As of September 2021 he was under investigation for bribery.[1][2]

Biography

He was born in Shaoxing, Zhejiang, in 1963, and graduated from Zhejiang Bank School (now Zhejiang Financial College).[3] He once served as governor of the Bank of China, Shangyu Branch and then the Bank of China, Jiaxing Branch in east China's Zhejiang province. In September 2004 he was promoted to become governor of the Bank of China, Hainan Branch, a position he held until April 2008, when he was transferred to north China's Shandong province as governor of the Bank of China, Shandong Branch. In October 2014 he was promoted again to become vice governor of the Agricultural Development Bank of China, and served until April 2020, while he was dispatched to China Development Bank as vice governor.[citation needed]

Downfall

On 10 September 2021, he has been placed under investigation for "serious violations of laws and regulations" by the Central Commission for Discipline Inspection (CCDI), the party's internal disciplinary body, and the National Supervisory Commission, the highest anti-corruption agency of China.[4][5] Hu Huaibang, former chairman of the China Development Bank, was placed under investigation for alleged "serious violations of discipline and law" in July 2019.[6][7]

On 26 January 2024, he was sentenced to 20 years in prison for committing the crimes of taking bribes, issuing financial bills in disregard of regulations, granting loans illegally and concealing overseas deposits.[8][9] Prosecutors accused He of taking advantage of his different positions between 2006 and 2021 and to used his influence and authority to assist relevant entities and individuals with bank credit and employment for their children, illegally receiving money and valuables totaling over 66.36 million yuan in return.[8][9] He was also issued a fine of 5.1 million yuan (about 717,560 U.S. dollars).[8][9]

References

  1. ^ Zhang Yuzhe; Bonnie Cao (10 September 2021). "Graft Probe Brings Down Another China Development Bank Executive". caixinglobal. Retrieved 10 September 2021.
  2. ^ Zhang Yuzhe (张宇哲) (9 September 2021). 国开行副行长何兴祥被查. caixin (in Chinese). Retrieved 10 September 2021.
  3. ^ Yu Yan (俞燕) (2024-05-17). 俞燕： 楼文龙，时隔12年“前腐后继”. sina (in Chinese). Retrieved 2024-05-20.
  4. ^ "China development bank vice president detained corruption probe". South China Morning Post. 10 September 2021. Retrieved 10 September 2021.
  5. ^ 国家开发银行副行长被查 涉嫌严重违纪违法！年内多名政策性银行干部被查. sina (in Chinese). 10 September 2021. Retrieved 10 September 2021.
  6. ^ "China jails former China Development Bank chief for life for graft". South China Morning Post. 7 January 2021. Retrieved 7 January 2021.
  7. ^ Zhang Yuzhe; Lin Jinbing (31 July 2019). "Former China Development Bank Boss Investigated for Corruption". caixinglobal. Retrieved 10 September 2021.
  8. ^ a b c "Former CDB official handed 20-year prison term for multiple crimes". xinhuanet.com. 26 January 2024. Retrieved 10 February 2024.
  9. ^ a b c Zhang, Yukun; Zhang, Yuzhe (29 January 2024). "Corrupt Former Policy Bank Vice President Gets 20 Years Behind Bars". caixinglobal.com. Retrieved 10 February 2024.