A former chairman of state-owned financial conglomerate China Everbright Group, Tang Shuangning, was arrested on suspicion of taking bribes and corruption, state media reported on Monday, citing China’s top prosecutor.
Tang, 69, was expelled from China’s Communist Party earlier this month for severe violations and disciplines, in an intensified campaign aimed at weeding out corrupt officials in the financial sector.
The Supreme People’s Procuratorate said the case was under further investigation. Reuters was not immediately able to reach Tang for comment.
Tang served as vice chairman of China’s top banking regulator in 2003 before he was appointed as chairman of China Everbright Group in 2007. He retired in 2017.
His arrest comes as China’s financial sector is increasingly in the crosshairs of President Xi Jinping’s vast anti-corruption campaign.
