China appoints new top graft-busters at key financial regulators

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The new appointments have fueled speculation that President Xi Jinping’s crackdown on corruption in the financial sector could escalate further. (Reuters)
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The new appointments have fueled speculation that President Xi Jinping’s crackdown on corruption in the financial sector could escalate further. (Reuters)
Updated 11 October 2017
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China appoints new top graft-busters at key financial regulators

BEIJING: China’s Communist Party has named new top officials to lead anti-corruption agencies at the country’s banking and insurance regulators as it makes final preparations for a twice-a-decade party congress later this month.
Lin Guoyao, a former municipal official in the coastal province of Fujian, has been appointed chief of the Party Disciplinary Commission at the China Insurance Regulatory Commission, according to an official online statement released late on Tuesday.
Lin, 51, spent 31 years working in the southern province, rising to the post of vice mayor in the city of Xiamen before being appointed party secretary of Longyan city.
Li Xinran, 45, has been named chief of the Party Disciplinary Commission at the China Banking Regulatory Commission. He worked for 22 years at the Central Commission for Discipline Inspection (CCDI), China’s top anti-corruption watchdog.
The new appointments have fueled speculation that President Xi Jinping’s crackdown on corruption in the financial sector could escalate further after the campaign put China’s former top insurance regulator Xiang Junbo and some big tycoons under investigation.
Xiang, the highest-ranking financial regulator being investigated for graft to date, was expelled from the Communist Party last month after the CCDI said he had “committed serious violations of political discipline and rules” in order to serve personal political interests.


Two high-speed trains derail in Spain, broadcaster reports seven people killed

Updated 40 min 50 sec ago
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Two high-speed trains derail in Spain, broadcaster reports seven people killed

  • The accident happened near Adamuz, which is near Cordoba

MADRID: Two high-speed trains derailed on Sunday in southern Spain, the rail network operator said, and state-run television channel RTVE said seven people had died, citing police sources.
The accident ​happened near Adamuz, in Cordoba province. Seven people have been confirmed dead by police, RTVE said, adding that 100 people have been injured, 25 seriously.
Spanish police did not immediately respond to request for comment from Reuters.
“The Iryo 6189 Malaga — (to Madrid) train has derailed from the track at Adamuz, crashing onto the adjacent track. The (Madrid) to Huelva train which was traveling on the adjacent track has also derailed,” said Adif, which runs the rail network, in a social media post.
Adif said the accident happened at 6:40 p.m. (1740 GMT), about ten minutes ‌after the Iryo ‌train left Cordoba heading toward Madrid.
Iryo is a private rail ‌operator, ⁠majority-owned ​by Italian state-controlled ‌railway group Ferrovie dello Stato. The train involved was a Freccia 1000 train which was traveling between Malaga and Madrid, a spokesperson for Ferrovie dello Stato said.
Iryo did not immediately respond to a request for comment.
Adif has suspended all rail services between Madrid and Andalusia.
Andalusia emergency services said on social media that all rail traffic had been halted and emergency services were on their way, including at least nine ambulances and emergency support vehicles.

CALLS FOR MEDICS
A woman named Carmen posted on X that ⁠she had been on board the Iryo to Madrid. “Ten minutes after departing (from Cordoba) the train started to shake a lot, and ‌it derailed from coach 6 behind us. The lights went ‍out.”
Footage posted by another Iryo train ‍passenger, also on X, showed an Iryo staffer in a fluorescent jacket instructing passengers to remain ‍in their seats in the darkened carriages, and those with first aid training to keep watch over fellow passengers.
The staffer told passengers they would be evacuated when it was safe to leave, but at that moment the safest place was on the train. He also urged people to maintain mobile phone batteries ​to be able to use their torches when they disembarked.
The passenger wrote: “In our carriage we’re well but we don’t know about the other carriages. There’s ⁠smoke and they’re calling for a doctor.”
The regional government has activated emergency protocols to mobilize more resources to the accident site. Locals posted on social media that a building would be set up in the village nearest the crash for evacuated passengers to be taken to.
Salvador Jimenez, a journalist for RTVE who was on board the Iryo train, shared images showing the nose of the rear carriage of the train lying on its side, with evacuated passengers sitting on the side of the carriage facing upwards.
Jimenez told TVE by phone from beside the stricken trains that passengers had used emergency hammers to smash the windows and climb out, and they had seen two people taken out of the overturned carriages on stretchers.
“There’s a certain uncertainty about when we’ll get to Madrid, ‌where we’ll spend the night, we’ve had no message from the train company yet,” he said. “It’s very cold but here we are.”