anti-graft Photo: VCG

China’s Supreme People’s Procuratorate has arrested Tang Shuangning, former Party chief and chairman of China Everbright Group, for the charge of embezzlement and accepting bribes, weakening the Party’s leadership over the state-owned enterprise, being ineffective in preventing and defusing financial risks, privately reading publications with serious political problems and resisting the organizational scrutiny, according to the Central Commission for Discipline Inspection (CCDI) and the National Supervisory Commission. 

The decision came after China’s National Commission of Supervision concluded the investigation into the case and handed over the case to China’s top procuratorate for review and prosecution, according to a statement released on the website of CCDI and the National Supervisory Commission on Monday. 

Tang, who was born in Beizhen city, Northeast China’s Liaoning Province in October of 1954, worked at the headquarters of the People’s Bank of China, China’s central bank, and was appointed as deputy chairman of the former China Banking Regulatory Commission, China's top banking regulator, in 2003. He became the Party chief and chairman of the China Everbright Group in June 2007. 

Tang retired in December of 2017 and was placed under investigation in July of 2023. He was expelled from the Communist Party of China (CPC) in January of 2024. 

According to a statement released on January 6 by the CCDI and the National Supervisory Commission, Tang had lost his ideals and beliefs, failed to resolutely implement the major decisions and plans made by the CPC Central Committee, weakened the Party’s leadership over the state-owned enterprise, and was ineffective in preventing and addressing financial risks. 

Tang also extensively publicized his personal calligraphy works by abusing his authority, and privately brought into the country and read publications with serious political problems, resisting the organizational scrutiny. 

Tang also took undue advantage of his position to appropriate public assets and seek profits for others in matters such as obtaining loans and job promotions, and illegally accepted huge sums of money and valuables in return, among other misdeeds. 

Tang’s actions have gravely breached Party discipline and he is placed under suspicion of criminal offenses related to embezzlement and accepting bribes, according to the statement. 

Tang has been expelled from the CPC following an investigation by the CPC Central Commission for Discipline Inspection and the National Commission of Supervision upon the approval of the CPC Central Committee, with his illicit gains confiscated. 

Global Times