Business
17:20, 04-Sep-2017
Former assistant chairman of China's banking commission faces legal action
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Former assistant chairman of the China Banking Regulatory Commission (CBRC), Yang Jiacai, faces legal action on suspicion of taking bribes, the Supreme People's Procuratorate (SPP) said Monday.
Yang is now subject to "coercive measures" and a full investigation is underway, the SPP announced.
He was removed from his post on June 15 over serious disciplinary violations.
Yang was born in central China's Hubei Province in 1961. He worked in the local government in the 1980s and later worked for China's central bank, the PBOC. He started with the CBRC in the 2000s and became assistant chairman in 2013.