Former Senior Chinese Banking Regulator Busted for Bribery

What’s new: Cai Esheng, a former vice chairman and Communist Party committee member of the now-defunct China Banking Regulatory Commission (CBRC), has been expelled from the party for serious law and disciplinary violations including bribery, the country’s top anti-graft agency announced in a Monday statement.

Cai took bribes and in return helped others get financing and promotions, the Central Commission for Discipline Inspection said. He abused his power and severely disrupted the order of the financial market, it said.