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China Anbang Cleanup Official Appeals Sentence

Published: Dec. 18, 2025 6:56 p.m. GMT+8

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A former official involved in the state takeover of China’s collapsed Anbang Insurance Group has appealed his 13-year prison sentence, disputing accusations that he abused power while disposing of the insurer’s assets and retracting key parts of an earlier confession.

Fu Fei, formerly a deputy head of the government working group that dismantled Anbang, told a Beijing court on Nov. 26 that although he accepted responsibility for certain bribery-related misconduct, he did not cause losses to state assets during the cleanup of the conglomerate.

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Fu Fei, ex-deputy head managing Anbang Insurance Group's assets, appealed his 13-year prison sentence for bribery and abuse of power.
He admitted to certain bribery-related actions but denied causing state asset losses and retracted parts of his confession.
The case highlights risks for officials handling financial crises in China and involves disputed asset sales worth over 200 million yuan.

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Who’s Who

Anbang Insurance Group: Anbang Insurance Group was a Chinese insurer that collapsed and underwent a state takeover. A former official, Fu Fei, involved in its dismantling, is appealing a 13-year prison sentence. He is accused of abusing power during asset disposal, specifically regarding the Xixi Mansion project, allegedly causing over 200 million yuan in state asset losses. Fu disputes these claims, arguing his actions aimed to maximize state recoveries.

Sino-Ocean Group: Sino-Ocean Group is a property developer that was involved in the disposal of Anbang Insurance Group's assets. Anbang transferred its Xixi Mansion residential project to Sino-Ocean at a price initially set at 4.9 billion yuan. Prosecutors alleged that Fu Fei, a former official involved in Anbang's state takeover, caused losses to state assets through this disposal process.

Gemdale Corp.: Gemdale Corp. is one of the property developers mentioned in connection with bribery allegations against Fu Fei, a former official involved in the state takeover of Anbang Insurance Group. Fu Fei denied these specific bribery allegations during his appeal. Gemdale Corp. operates under the stock code 600383.SH.

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