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Former Huishang Bank Chairman Expelled From Communist Party

Communist Party Corruption

Wu Xuemin

What’s new: Wu Xuemin, a former chairman of Hong Kong-traded Huishang Bank Corp. Ltd., was expelled from the Communist Party for alleged corruption and faces criminal charges, China’s top graft buster said Friday in a statement.

Wu, 54, served as Huishang Bank’s party chief and chairman between November 2017 and April 2021 before he was appointed to head the Anhui Credit Guarantee Group Co. Ltd. He was placed under party investigation in March.

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