BEIJING - President Xi Jinping's corruption crackdown on the nation's sprawling financial sector is accelerating, reaching the upper levels at some of China's premier institutions and further unnerving investors having to contend with mounting headwinds for the world's second-largest economy.
Investing in China is becoming increasingly precarious as Mr Xi has cracked down on broad parts of the private sector, including the real estate industry and big technology companies. Mr Jiang and Mr Tian were roommates at Shanghai University of Finance and Economics, according to local media reports.
Ding Shilu, ex-chairman of Chongqing Three Gorges Bank, a commercial bank in central China, was charged with bribery and expelled from the Communist Party, according to a statement yesterday from the Central Commission for Disciplinary Inspection.