Another China Development Bank Ex-Official Comes Under Probe

What’s new: Mao Juncai, the former Communist Party chief and president of the Shanghai branch of China Development Bank, the nation’s biggest policy lender, was placed under investigation by graft busters.

Mao is being probed “on suspicion of serious violation in law and discipline,” the Central Commission for Discipline Inspection, the Communist Party’s top corruption watchdog, said late Friday in a statement. The commission didn’t elaborate on the suspected violations, but the phrase often refers to corruption.