China's anti-corruption watchdog said Wednesday it is investigating a former chairman of its top policy bank, the latest official to be ensnared in President Xi Jinping's sweeping campaign against graft.

Hu Huaibang worked his way up China's financial sector, moving between regulatory positions and state-owned companies before landing the top job at the Bank of Communications.

In 2013 he became chairman of China Development Bank and held the position until September of last year.

CDB is one of three banks tasked with funding Beijing's pet projects and supporting Chinese companies abroad and has provided massive financing for Xi's signature Belt and Road global infrastructure project.

The bank had $2.3 trillion in total assets at the end of 2018 making it one of the largest lenders in the world, according to its annual report.

It is Hu's connection with fallen Chinese oil tycoon Ye Jianming, chairman of CEFC China Energy, that appears to have landed him in trouble.

CEFC was an upstart energy company that quickly grew to be worth tens of billions of dollars despite a murky track record.

Last year Ye disappeared and is now believed to be held by Chinese authorities for unspecified charges while authorities have begun to sell off parts of the firm.

In Hu's roles at the Bank of Communications and the CDB, he allegedly helped CEFC secure billions in credit lines for its overseas deals.

Hu's alleged involvement in the deals came out in the trial of the fallen party boss of northwest Gansu province who arranged the state support, according to documents and graphics shown by state broadcaster CCTV.

China's anti-graft agency said Wednesday that Hu was suspected of "serious violations of discipline and law", a euphemism that usually means corruption, and was under investigation.

Hu is the latest official to have fallen under suspicion in Xi's campaign against corruption in the Communist Party, which critics have compared to a political purge.

Australia orders probe into treatment of Chinese high rollers
Sydney (AFP) July 30, 2019 - Australia's government on Tuesday ordered an inquiry into allegations that police, customs and immigration officials illegally smoothed the way for a prominent casino group to attract Chinese high rollers.

Crown casinos has been in the spotlight since Sunday when a series of media reports alleged it used junket operators with links to Asian triad gangs, that drug traffickers laundered money through the company, and that government employees gave special treatment to wealthy Chinese gamblers.

Attorney-General Christian Porter said on Tuesday he had referred the allegations raised by the Nine News investigation to the Australian Commission for Law Enforcement Integrity.

"It's my view that there are sufficient concerns raised at least to warrant further investigations," he told the Australian parliament.

Officials are accused of waving Chinese VIP gamblers through customs, issuing fast-track visas to high rollers and moonlighting for a VIP visitor to the casino.

Independent MP Andrew Wilkie told parliament that in one instance some gamblers stepped off a plane and travelled directly to the casino, stopping only to pick up a sex worker en route.

The high rollers who are alleged to have visited the casino on junkets from China include Ming Chai -- the cousin of Chinese President Xi Jinping.

Chinese foreign ministry spokeswoman Hua Chunying rejected the allegations against Ming.

"I don't know where these media outlets dig out these rumours from to make such groundless accusations," Hua said at a regular briefing.

"These sensational claims are an attempt to discredit China. I think such tactics are despicable."

Porter stressed that beyond the media reports he did not have "any other obvious evidence otherwise available that supports allegations against law enforcement, immigration or customs authorities".

The commission would now decide whether or not to launch a full investigation, Porter said.

Crown said it would work with any investigation and denied wrongdoing.

"Crown absolutely rejects allegations of illegality made in Parliament today and in recent media reporting. We believe these allegations are ill-informed and an attempt to smear the company," a statement said.

The Department of Home Affairs told AFP it has a series of arrangements with large international organisations to quickly process short-stay visas.

Such an agreement existed with Crown between 2003 and 2016.

The department said there was "no reduced vetting in certain locations or for certain applicants" and there was "no discretion" to waive legislative requirements for such visas.

Crown has casinos in Melbourne and Perth, and is building another in Sydney.

Related Links
China News from SinoDaily.com

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

China anti-graft body probes high-level Xinjiang official
Beijing (AFP) July 30, 2019
China's anti-corruption watchdog said Tuesday it is investigating a high-level official in the northwest Xinjiang region, the latest to be ensnared in President Xi Jinping's sweeping campaign against graft. Enwaer Tursun, an ethnic Uighur, had worked his way up in his native Xinjiang, eventually rising to the post of deputy secretary-general of the region's People's Congress in 2017. Xinjiang is home to the Uighur minority, and where an estimated one million mostly Muslim Turkic-speakers are hel ... read more