Tag: Banking, Category: Economy

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GDB Executives Held in Police Custody

The Financial Times has the latest development in China’s anti-corruption struggle: Police have detained two senior executives from Guangdong Development Bank, a mid-sized Chinese lender in which Citigroup owns 20 per cent, on suspicion of economic crimes. Wang Xin, GDB’s vice-president, and another unnamed department head, were detained last week in connection with unspecified economic crimes, a source with direct knowledge of the matter told the Financial