The former president of the Chinese state banking giant Everbright Group, Tang Shuangningwas arrested on charges of corruption and extortion, according to what was communicated by the Supreme People’s Procuratorate of Beijing.
The restrictive measure, carried out “in recent days”, came at the conclusion of the first investigation launched into Tang, expelled last week from the Chinese Communist Party. The announcement of the arrest of the former banker, the latest of many other financiers, also follows the new large-scale anti-corruption campaign launched a few days ago by the president Xi Jinping, with a special focus on sectors such as finance. Accused of “indulging in a life of pleasure and convenience”, Tang Shuangning “failed to prevent and resolve financial risks, thus violating the organizational line” of the CCP, the observatory said. Mr. Tang’s successor at the helm of Everbright Group, Li Xiaopengwas arrested last month on corruption charges.