Ex-SOE executive gets 18-year prison sentence

A former senior executive at several major State-owned enterprises was sent to prison for 18 years on Tuesday after he was convicted of embezzling public funds and accepting bribes.

Shanghai No 2 Intermediate People's Court found that Wang Zongnan embezzled 195 million yuan ($30.83 million) and took bribes of 2.69 million yuan between 2001 and 2006.

He served as general manager of Shanghai Friendship Group and as chairman of Shanghai Lianhua Supermarket Holdings Co during that time.