Tang Ruoxin, former president of China Export & Credit Insurance Corporation (SINOSURE), has been sentenced to 14 years in jail for abusing his authority and taking bribes of 3.55 million (US$520,000), the Beijing Times reported Friday.
His verdict by Beijing's Second Immediate People's Court last Tuesday was handed to him at Qingcheng prison, a special penitentiary in northwest Beijing notorious for the high-ranking officials it locks up.
Tang, 55, serviced at the People's Insurance Company (Group) of China before he was transferred to SINOSURE as its president and party secretary in 2001, where he stayed seven years until his arrest in August 2008.
Tang, a history graduate from Beijing Normal University and a visiting scholar at Oxford, is the son of renowned literary historian Tang Tao (1913-1992). The late Tang was best known for his study on household-name literati Lu Xu (1881-1936) who was widely considered as the founder of modern Chinese literature.