Former VP of China Development Bank receives 15-year sentence for bribery

CHANGCHUN -- Zhou Qingyu, former vice-president of China Development Bank, was on Tuesday sentenced to 15 years in prison for bribery crimes, according to a verdict handed down by a court in Changchun, Jilin province.

Zhou has also been fined 5.2 million yuan (about $732,000), and his illegal gains are confiscated and turned over to the state treasury, according to the verdict by the Changchun Intermediate People's Court.

An investigation into Zhou's case revealed that between 2013 and 2023, he took advantage of his various positions at the bank to assist others in such matters as loan financing, project contracting, business operations and personnel arrangements. In return, Zhou accepted money and valuables worth over 67.43 million yuan.

It was also established that Zhou, after leaving the bank, had used his influence to seek illegal benefits for others in project contracting and other matters, and accepted money and valuables worth approximately 1 million yuan in return.

The court noted that Zhou had been cooperative throughout the investigation and in returning his illegal gains, and he was given a lenient sentence in accordance with the law.