Central banker executed for fraud in China

CHINA - China has executed a former central bank official for fraud, according to the official Xinhua state news agency on Thursday.

Chen Zhiqing was an official with the state treasury department at a People's Bank of China branch in the poor northwest province of Qinghai.

He was accused of using tax refunds, fake transfers and false receipts to steal nearly 15.5m yuan ($1.9m; £1.3m).

The case is the biggest involving the state treasury since the founding of Communist China in 1949.

Corruption