China jails former senior finance official for bribery
File photo of Wang Jianjun, vice chairman of China Securities Regulatory Commission, speaking during the Global Financial Leaders’ Investment Summit in Hong Kong on Nov 7, 2023. (File photo: AFP/ Peter Parks)
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BEIJING: A Chinese court sentenced a former senior finance official to life in prison on Monday (Sep 7) for bribery, finding him guilty of illegally amassing the equivalent of nearly US$14 million.
Wang Jianjun, 58, served as vice-chairman of the China Securities Regulatory Commission (CSRC) from 2021 to 2025.
The commission oversees and regulates the country’s financial markets, from stock and bond trading to company listings.
A court in eastern Shandong province found Wang had leveraged his roles between 2005 and 2019 “to secure benefits for entities or individuals in areas such as company listings, corporate financing and the awarding of contracts”.
He illegally received, either directly or through third parties, assets and funds totalling more than 93.4 million yuan (US$13.9 million), the court said in its statement.
Wang “admitted the facts before the court and expressed remorse” and was sentenced to life imprisonment, it said.
Since taking office in late 2012, Chinese President Xi Jinping has maintained a constant anti-corruption campaign that has brought down huge numbers of officials.
In recent years, the scope of the campaign has widened to include the banking and financial sectors.
Source: AFP/sz
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