Hu Huaibang

He graduated with a bachelor's degree in economics from Jilin University. He then received a PhD in Economics from the Shannxi Institute of Finance and Economics in 1999.[1] In 2000 he began working for the People's Bank of China, the central bank. He was posted in Chengdu, then Xi'an. He then joined the China Banking Regulatory Commission as a discipline official and a member of the party committee. In September 2008 he became chairman of the Bank of Communications. In April 2013 he was named chairman of the China Development Bank.[2][3][4]

Hu was an alternate member of the 18th Central Committee of the Communist Party of China.

On July 31, 2019, he was placed under investigation for alleged "serious violations of (Communist Party) discipline and law", said in a statement by the Central Commission for Discipline Inspection, the Chinese Communist Party's top anti-graft agency.[5] Allegedly involved in the corruption cases of Wang Sanyun and Ye Jianming, he was expelled from the Communist Party on January 11, 2020.[6][7]

In January 2020 he was placed under investigation by the Central Commission for Discipline Inspection.[8]

On January 7, 2021, China Central Television reported that Hu had been convicted and given a life sentence for corruption by the Chengde Intermediate People's Court. The court described this as a light punishment due to mitigating circumstances: Hu had confessed and cooperated with prosecutors. The court also ordered the seizure of Hu's assets and indicated that Hu had already returned the 85.5 million RMB that he had received in bribes.[8]

Hu married Xue Yingjuan (薛迎娟), their son, Hu Xiaodong (胡啸东; born 1982), once served as deputy general manager of the Asset Management Division of Hengfeng Bank.[9] On February 12, Hu was arrested and Hu's case had been transferred to the procuratorate for further investigation and prosecution.[10]