China Development Bank is the largest of China’s policy banks BEIJING: A former chairman of the China Development Bank (CDB), Hu Huaibang, is being investigated for violations of discipline, the country"s graft-busting agency says. The Central Commission for Discipline Inspection (CCDI) gave no details of which regulations or laws may have been breached on Wednesday. Hu had been with the policy bank since 2013 and was also its top official from the ruling Communist Party, stepping down last September. The following month, his name emerged during the high-profile graft trial of a party official, Wang Sanyun, who had been the party chief of Gansu province from 2011 to 2017. Prosectors said that Hu in his previous role as chairman of Bank of Communications had channeled bribes to Wang on behalf of Ye Jianming, the former chairman of CEFC China Energy, China"s official CCTV reported in October. Wang was also accused of helping CEFC subsidiary CEFC Hainan obtain $4.8 billion in financing from CDB when Hu was chairman. CDB is the largest of China"s policy banks, which disburse funds to support the government"s economic strategies. CDB had total assets of 16.18 trillion yuan ($2.35 trillion) at the end of 2018, according to its annual report. CEFC defaulted on bonds last year and former chairman Ye was put under investigation. Since taking office in 2012, President Xi Jinping has overseen an anti-corruption drive that has ensnared numerous top officials. In April 2018 Lai Xiaomin, former head of Huarong Asset Management, was placed under investigation, and in February, the CCDI said that another former CDB executive, Guo Lin, had been expelled from the Communist Party after an investigation found him guilty of "disciplinary issues."