Chinese insurance regulator admits guilt in graft case
18 Jun 2018

AP — China’s former chief insurance regulator has pleaded guilty to taking bribes over 12 years in exchange for helping people obtain loans, promotions and other favors, a state news agency reported.

Xiang Junbo was the highest-ranking figure in Chinese finance to be ensnared in an anti-graft crackdown led by President Xi Jinping since 2013.

Xiang “pleaded guilty and expressed repentance” on Thursday during his trial in the eastern city of Changzhou, according to the Xinhua News Agency.

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