July 26, 2018 / 2:52 PM / 4 months ago

Ex-assistant chairman of China's banking regulator sentenced to 16 years in prison: state media

HONG KONG (Reuters) - The former assistant chairman of China’s banking regulatory commission has been sentenced to 16 years in prison for accepting bribes, state media said on Thursday, as the Chinese government clamps down on corruption.

Yang Jiacai, former assistant chairman of the then China Banking Regulatory Commission, was accused of accepting bribes of about 23.08 million yuan ($3.4 million), according to an online report by the official Securities Times.

The report had cited the Puyang Intermediate People’s Court in Henan, which was not immediately available for comment on Thursday.

The China Banking Regulatory Commission was then restructured earlier this year to form the China Banking and Insurance Regulatory Commission.

Earlier in the day, the former chairman of China’s state-owned oil company Sinopec Corp (600028.SS)(0386.HK), Su Shulin, was sentenced to 16 years in prison for graft, state media reported, citing the Shanghai Second Intermediate Court.

($1 = 6.7815 Chinese yuan renminbi)

Reporting by Lee Chyen Yee in Singpaore and Meg Shen in Hong Kong; editing by David Evans

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