Feb 06, 2024 04:51 AM

FINANCE

Ex-Chief of China Merchants Bank Receives Suspended Death Sentence

By Wu Xiaomeng and Han Wei

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Tian Huiyu, former president of China Merchants Bank, at a public trial on Nov. 9 at the Intermediate People's Court of Changde City, Hunan province. Photo: The Intermediate People's Court of Changde

Tian Huiyu, former president of China Merchants Bank, at a public trial on Nov. 9 at the Intermediate People's Court of Changde City, Hunan province. Photo: The Intermediate People's Court of Changde

What’s new: Tian Huiyu, a former president of China Merchants Bank Co. Ltd. (CMB) (600036.SH), received a suspended death sentence on multiple charges including bribes and insider trading.

A court in Changde, southern China’s Hunan province, announced the verdict, which carries a two-year suspension, Monday. Tian, 58, pleaded guilty at a court hearing in November.

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