Former Senior Chinese Banking Regulator Stands Trial 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), stood trial for bribery and abuse of power Thursday.

Cai, was charged with taking 519 million yuan ($72.5 million) of bribes directly and indirectly from 2006 to 2021, and in return, helping others get financing and promotions. He was also accused of abusing his regulatory power to practice favoritism, causing significant loss to public assets and state interest.