Ex-head of Postal Savings Bank faces graft charges

The former head of one of China's largest banks has been charged with corruption, authorities said on Wednesday.

Tao Liming, ex-president of the Postal Savings Bank of China, is accused of taking bribes and embezzling public funds, the Supreme People's Procuratorate said in a statement.

The State-owned bank, a spin-off from the post office, has the country's largest network of banking outlets.