Xiang Junbo is accused of accepting "huge amounts of money"
People pass by an electronic stock board of a securities firm in Tokyo, on Wednesday, Aug. 2, 2017. Asian stock markets were higher on Wednesday following Dow industrial’s record-high finish as upbeat corporate earnings reports and China factory data boosted investor confidence. (AP Photo/Sherry Zheng), photo: AP/Sherry Zheng
25 of September 2017 13:32:32
BEIJING – A corruption case against China's former insurance regulator, the highest-ranking figure in Chinese finance to be snared in a marathon anti-graft crackdown, has been handed over to prosecutors, the country's anti-corruption agency says.Xiang Junbo is accused of accepting "huge amounts of money" in bribes and other offenses, the Central Commission for Discipline Inspection (CCDI) said in a weekend statement. It said he was expelled from the ruling Communist Party, where he had been a member of the 376-member Central Committee.Officials and managers at many state companies have been snared in the anti-corruption drive launched by President Xi Jinping after he took power in 2013.Xiang, 60, is a former chairman of state-owned Agricultural Bank of China Ltd., one of the country's top four commercial lenders, and a former central bank official. He was secretary of the China Insurance Regulatory Commission's party committee.