FINANCE

Ex-Regulator Jailed for 16 Years in China’s ‘Revolving Door’ Crackdown

Published: Jul. 21, 2026 2:17 p.m. GMT+8

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Zhang Jinsong

A former Chinese banking regulator who oversaw major corporate debt restructurings has been sentenced to 16 years in prison for bribery, a high-profile conviction in Beijing’s sweeping financial anti-graft campaign.

A Beijing court found Zhang Jinsong guilty of accepting bribes during and after his government tenure, according to a ruling announced Friday. He was also fined 2.5 million yuan ($370,000).

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Zhang Jinsong, former CBIRC deputy head, sentenced to 16 years in prison for bribery and fined 2.5 million yuan.
After resigning around 2019, he advised private conglomerates and regional asset managers he once regulated.
His clients included entities tied to the 40-billion-yuan Henan rural bank scandal and Tunghsu Group.

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What Happened When

Around 2019：: Zhang Jinsong resigned from his position as deputy head of the law and regulation department at the China Banking and Insurance Regulatory Commission.