What’s new: China’s top anti-graft agency has disclosed details it has uprooted about several high-profile corruption cases in the country’s rural credit system, which provides the financial backbone for people and businesses in the countryside.

Two of the most prominent and well-documented cases disclosed by the Central Commission for Discipline Inspection (CCDI) were found at the Anhui Rural Credit Union in East China’s Anhui province, and the Yunnan Rural Credit Union in the southwestern province of Yunnan.

Chen Peng, a former Communist Party committee chief at the Anhui credit union, took bribes worth more than 60 million yuan ($9.3 million) from the general manager of Huaxia Life Insurance Co. Ltd., surnamed Deng, according to a CCDI statement (link in Chinese) released Monday. In return, Chen promoted Huaxia Life’s insurance products within the province’s rural credit system from 2011 to 2019. Over 50 local rural commercial banks bought the company’s insurance products, with the total premiums amounting to 9.7 billion yuan.