Tang Shuangning, the former chairman of China Everbright Group who previously held senior positions at the People’s Bank of China and the China Banking Regulatory Commission, has been indicted on bribery and embezzlement charges. After being arrested in January, the investigation concluded last Friday and the public prosecution has been filed by the Tangshan People’s Procuratorate of Hebei Province, supervized by the Supreme People’s Procuratorate.
The Tangshan People’s Procuratorate alleges Tang made use of his authority in previous official roles to appropriate public property, solicited benefits linked to financial matters such as loans, and illegally accepted property. These allegations point to his tenure as the director of the First Department of Banking Supervision of the People’s Bank of China and his positions at China Everbright Group and Everbright Bank.
It is noteworthy that Tang’s predecessor at China Everbright Group, Li Xiaopeng, was also investigated for similar charges. Senior officials like Liu Liange, the former chairman of the Bank of China, and Zhang Hongli, who served the Industrial and Commercial Bank of China, the nation’s largest bank, also faced investigations for charges related to bribery and embezzlement.
This spate of indictments indicates intensified steps toward addressing corruption within China’s banking sector.
For more information, please see the original report here.