2 plead guilty to charges of corruption

FUZHOU - Wang Yincheng, former president of the People's Insurance Co (Group) of China, was sentenced to prison for 11 years on Thursday for accepting bribes of more than 8.7 million yuan ($1.36 million).

Wang pleaded guilty and said he would not appeal the conviction.

His illegal gains will be recovered and handed over to the national treasury. He was also fined 1 million yuan, according to a statement by the Intermediate People's Court in Fuzhou, Fujian province.