BEIJING, Jan. 26 (Xinhua) -- He Xingxiang, former vice president of China Development Bank (CDB), was handed a 20-year prison term on Friday for committing the crimes of taking bribes, issuing financial bills in disregard of regulations, granting loans illegally and concealing overseas deposits.
He was also issued a fine of 5.1 million yuan (about 717,560 U.S. dollars), according to the verdict announced by the Third Intermediate People's Court of Beijing.
According to the court findings regarding bribery, from 2006 to 2021, He took advantage of his previous positions as president of the Bank of China (BOC)'s Hainan branch, head of the BOC's Shandong branch, as well as vice president of the Agricultural Development Bank of China and deputy head of the CDB, and 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. ■
