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fired chinese insurance regulator charged with bribery, abuse of power

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fired chinese insurance regulator charged with bribery, abuse of power

shanghai—chinese prosecutors indicted the country’s former chief insurance regulator on charges of abusing his power and taking bribes, a year after he was fired amid concerns the industry’s sizzling expansion had saddled the financial system with risk. xiang junbo, whose firing last april underscored the severity of a shake-up in china’s financial sector, faces charges that also include using his positions to promote the interests of others, according to a statement from the nation’s top prosecutors office monday....