Former China Development Bank vice-president under investigation

Former vice-president of China Development Bank Li Jiping has been placed under disciplinary and supervisory investigation, an official statement said on Wednesday.

Li is being investigated by the Central Commission for Discipline Inspection of the Communist Party of China and the National Commission of Supervision, China's top anti-graft watchdogs, for suspected severe violations of Party discipline and the law, the CCDI and NCS statement said.

Li became a member of the Party Committee of the bank and the vice-president of the bank in October 2008.