China’s Communist Party expels former insurance watchdog chief over corruption
Former top finance ministry graft-buster also pushed out of the party over ‘discipline violations’
China’s Communist Party has expelled the nation’s former top insurance regulator and the head of the finance ministry’s anti-graft committee after an anti-corruption watchdog said investigations found serious violations of party discipline.
In a online statement on Saturday, the Central Commission for Discipline Inspection (CCDI) said an investigation had determined that Xiang Junbo, former chairman of the China Insurance Regulatory Commission (CIRC), had “committed serious violations of political discipline and rules” to serve personal political interests.
The statement also said Xiang was suspected of bribery and accused him of “engaging in superstitious activities”, an allegation often levelled at discredited officials to further tarnish their names.
President Xi Jinping has overseen a far-reaching anti-corruption drive since coming to power in late 2012, punishing more than a million party members, jailing top military figures and retired security tsar Zhou Yongkang, the most senior official toppled for corruption since 1949.
China’s top leaders have also pledged this year to address financial risks and asset bubbles, ahead of a five-yearly party congress due to start on October 18.
Xiang would be handed over to legal authorities, the statement said, meaning he will be prosecuted.
