Everbright ex-boss held in corruption probe

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.

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.

Tang, who had been reported under probe in July, was found taking publications with severe political issues inbound and taking bribes, the Party's Central Commission for Discipline Inspection said in a statement two weeks ago.

He illegally accepted funds and gifts, such as valuable calligraphy and paintings, and took advantage of his position to "seek profits" from people he helped to get job promotions, according to the statement.