China’s ruling Communist Get together has expelled a former chief accountant of state-controlled PICC Property and Casualty Co. from the get together, accusing him of unlawful actions and taking bribes, the anti-graft watchdog mentioned on Wednesday.
The Central Fee for Self-discipline Inspection (CCDI) opened an investigation into Shen Dong in December, when he was faraway from his publish as vice chairman on the insurer.
CCDI mentioned in an announcement on its web site that it had discovered Shen had significantly violated Communist Get together self-discipline, carried out unlawful actions, and was suspected of taking bribes.
Reuters sought remark from PICC Property and Casualty representatives, however a phone name and e mail had been unanswered.
President Xi Jinping has stepped up efforts in recent times to weed out corrupt Communist Get together officers within the monetary sector.
Final week, the CCDI mentioned it was investigating Solar Guofeng, former head of the central financial institution’s financial coverage division, for suspected severe violations of self-discipline and legal guidelines.
In February, the anti-graft watchdog concluded an inspection of establishments together with the central financial institution, the banking and insurance coverage regulator, inventory exchanges, business banks and asset-management corporations, within the nation’s first coordinated inspection of the sector since 2015.
(Reporting by Jason Xue and Andrew Galbraith; modifying by Simon Cameron-Moore)
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