Former China Life Chairman Expelled From Party for Bribery

What’s new: Wang Bin, a former chairman of China Life Insurance (Group) Co., has been expelled from the Communist Party and dismissed from public office for serious duty violations and corruption, China’s top anti-graft watchdog said Thursday.

Wang, 63, who was also the state-owned insurer’s party committee chief, was found to have engaged in financial corruption, including illegally accepting cash and gifts as well as abusing his power to help with business deals and loans in return for large sums of money, the Central Commission for Discipline Inspection (CCDI) said in a statement.