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Former chairman of state-owned bank China Everbright Group arrested over suspected corruption

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Published 1:34 AM

By ZEN SOO
AP Business Writer

HONG KONG (AP) — Chinese prosecutors say the former chairman of state-owned Chinese bank China Everbright Group has been arrested on suspicion of corruption and bribery. The announcement of Tang Shuangning’s arrest came after he was expelled from the Chinese Communist Party earlier this month over violations of disciplines and laws, part of a lengthy crackdown on corruption in the financial sector. Chinese president Xi Jinping earlier this month pledged to intensify a crackdown on graft in the finance, energy and infrastructure sectors, continuing his campaign to fight corruption since he came to power since 2012. Tang’s successor Li Xiaopeng was also suspected of graft, expelled from the party and removed from public office.

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