Tang Shuangning is newest in lengthy line of high-profile figures to be ensnared in Xi Jinping’s anticorruption drive.
The previous head of China’s state-owned banking large Everbright Group has been arrested for alleged corruption, prosecutors have mentioned.
Tang Shuangning, 69, was arrested on suspicion of taking bribes and embezzlement following the conclusion of an investigation by the anticorruption authority, China’s Supreme Folks’s Procuratorate mentioned on Monday.
Tang was earlier this month expelled from the ruling Communist Get together for alleged violations of social gathering self-discipline, together with bringing unauthorised books into the nation and accepting illicit presents.
The previous financial institution chairman is the newest in an extended line of high-profile figures inside China’s monetary sector to be ensnared in President Xi Jinping’s sweeping marketing campaign in opposition to corruption.
Final month, Solar Guofeng, the previous head of the central financial institution’s financial coverage division, was sentenced to 16 years and 6 months in jail for taking bribes, leaking state secrets and techniques and insider buying and selling.
In October, Liu Liange, the previous chairman of the Financial institution of China, was arrested on suspicion of bribery and offering unlawful loans.
Li Xiaopeng, who took over from Tang at Everbright, was arrested on suspicion of accepting bribes the identical month.
Xi, broadly considered China’s strongest chief since Mao Zedong, has made a zero-tolerance angle towards corruption a signature coverage of his precedent-busting tenure in workplace.
Whereas Xi’s supporters have credited the Chinese language chief with cleansing up the nation’s politics and enterprise, critics say the anticorruption drive is a thinly veiled ploy to purge rivals.