China’s Anti-Graft Watchdog Probes Chairman of China Life Insurance

SHANGHAI – China’s Central Commission for Discipline Inspection (CCDI) has placed Wang Bin, the chairman of China Life Insurance Co. Ltd., under investigation, the bureau said on Saturday.

Wang is “suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and investigation,” the anti-graft watchdog wrote in a statement.

China’s CCDI has recently placed the country’s financial sector under scrutiny.

In October, the bureau deployed teams to 25 financial institutions including the central bank and stock exchanges as part of a campaign to weed out corrupt officials.

(Reporting by Josh Horwitz and Cheng Leng; editing by Christian Schmollinger)