Compliance & Regulation

China’s insurance regulator pleads guilty to taking USD 3 million in bribes

State media have reported that China’s former insurance regulator has pleaded guilty to taking bribes.

61-year-old Xiang Junbo was accused of taking bribes of USD 3 million in exchange for helping organisations and individuals secure contracts, loans, qualifications and personnel promotions, Xinhua reported.  Xiang pleaded guilty to the charges, the report said.