June 14, 2018 / 9:30 AM / 7 days ago

Ex-chairman of China's insurance regulator confesses guilt to crimes: Xinhua

BEIJING (Reuters) - The former chairman of China’s insurance regulator Xiang Junbo confessed his guilt to crimes in his trial in court, the official Xinhua News Agency reported on Thursday.

FILE PHOTO: Xiang Junbo, chairman of China Insurance Regulatory Commission (CIRC), attends a news conference on the sidelines of the National People's Congress (NPC) in China's parliament, in Beijing, China March 12, 2016. REUTERS/Jason Lee/File Photo

Xiang is the highest-ranking financial regulator being investigated for graft to date.

He was expelled from the Communist Party last year after China’s anti-graft watchdog said he had “committed serious violations of political discipline and rules” in order to serve personal political interests.

Reporting by Beijing Monitoring Desk; Editing by Kim Coghill

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