China s antigraft agency unveils corruption cases involving banking regulators
Sun Online Desk
1st June, 2021 07:18:47
China s top antigraft agency, Central Commission for Discipline Inspection (CCDI) on Tuesday disclosed details of corruption cases involving five former banking regulators in the Inner Mongolia autonomous region.
As per the CCDI report, the regulators took more than 700 million Yuan (USD 109 million) in bribes, mostly connected with scandal-hit Baoshang Bank, a failed local lender taken over by the state in 2019, reported Nikkei Asia.
The officials, including Xue Jining, former head of the Inner Mongolia branch of the now-defunct China Banking Regulatory Commission (CBRC), abused their power to seek benefit for those who paid them bribes related to establishing institutions, approving new businesses and loans, project construction and personnel appointments, said the CCDI report.
Beijing [China], May 30 (ANI): China's top antigraft agency, Central Commission for Discipline Inspection (CCDI) on Tuesday disclosed details of corruption cases involving five former banking regulators in the Inner Mongolia autonomous region.
China top antigraft agency, Central Commission for Discipline Inspection (CCDI) on Tuesday disclosed details of corruption cases involving five former banking
CX Daily: Saving Peking University’s Fallen Tech Conglomerate
Restructuring /
In Depth: Saving Peking University’s fallen tech conglomerate
Peking University Founder Group Corp. (PUFG) was once the poster child for the entrepreneurial spirit that flowed from the hallowed halls of China’s elite universities in the 1980s as reform and opening-up fever gripped the country. Today, it’s bankruptcy reorganization after years of reckless expansion built on unsustainable debt, with some corruption thrown in for good measure.
Many of the other high-profile busted corporate flushes that have been through the bankruptcy restructuring or liquidation mill were victims of massive corruption or asset stripping by their previous owners, or weak players in their sectors or in industries with poor prospects. But PUFG has a portfolio of attractive assets in growth areas.