China's top corruption watchdog has branded a financial big shot sentenced to death for bribery as an "enemy within" for the financial system, using the high-profile case to underscore the resolve of the country's leaders to tighten their grip on bad-debt managers and curb financial risks.
The case of the former chairman of China Huarong Asset Management, one of China's "Big Four" state-owned bad-debt managers, is "shocking" and involved "extremely serious crimes" that caused significant damage to the interests of the country and its people, according to a statement published Monday by the Communist Party's Central Commission for Discipline Inspection (CCDI) and the National Supervisory Commission (NSC).
