What’s new: Tong Daochi, the former Communist Party chief of southern China’s scenic city Sanya in Hainan province, was sentenced to death with a two-year reprieve for insider trading and accepting 274 million yuan ($43 million) of bribes.
Tong, 55, was also sentenced to a fine of 4 million yuan and confiscation of all personal property for insider trading, the Intermediate People’s Court of Shenzhen in Guangdong province ruled Thursday. Tong said in court that he wouldn’t appeal the death sentence.
