Former deputy general manager of China Taiping Insurance prosecuted for bribery

BEIJING -- Xiao Xing, a former deputy general manager of state-owned China Taiping Insurance Holdings Company Limited, has been indicted on charges of accepting bribes, the Supreme People's Procuratorate (SPP) said in a statement on Monday.

Following the completion of the National Commission of Supervision's investigations, the people's procuratorate of the city of Xinxiang in Central China's Henan province filed Xiao's case to the city's intermediate people's court, according to the SPP statement.

Prosecutors accused Xiao of taking advantage of his various posts and abusing his power to seek illicit gains for others, while illegally accepting a huge amount of bribes in the form of money and valuables in return.

Prosecutors had informed the defendant of his legal rights, interrogated him, and listened to the defense counsel's arguments, the statement noted.