Former Chinese Financial Official Expelled for Alleged Bribery
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Liu Wei, an ex-official at China’s top financial regulator, has been expelled from the Communist Party and removed from public office over suspected bribery, the country’s top anti-graft watchdog announced last week.
Liu, a former inspector at the Institution Recovery and Resolution Department of the National Financial Regulatory Administration (NFRA), has been accused of abusing his position to seek benefits for others, including securing bank loans, share transfers and job arrangements. In return, he accepted a “huge” amount of bribes, the statement said, without disclosing the exact sum.
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- Liu Wei, former inspector at China’s financial regulator NFRA, was expelled from the Communist Party and removed from office for suspected bribery.
- He allegedly abused his position for personal gain, accepted large bribes, and previously worked on trust sector bailouts and Anbang Insurance Group’s liquidation.
- Authorities took Liu into custody in June 2025; his case has been referred to prosecutors for further investigation.
- China Trust Protection Fund Co. Ltd.
- China Trust Protection Fund Co. Ltd. manages the trust sector's bailout fund. An ex-official, Liu Wei, who is under investigation for bribery, previously oversaw this company while working at the now-defunct China Banking and Insurance Regulatory Commission.
- Anbang Insurance Group Co. Ltd.
- Anbang Insurance Group Co. Ltd. was a collapsed insurance company. Liu Wei, an ex-official from China's top financial regulator, led the liquidation team for Anbang. This occurred during his tenure at the Institution Recovery and Resolution Department of the National Financial Regulatory Administration (NFRA), a department established to handle troubled financial institutions.
- 2023：
- The Institution Recovery and Resolution Department of the National Financial Regulatory Administration (NFRA), where Liu Wei most recently worked, was established.
- Early June 2025：
- Liu Wei was taken away by authorities.
- June 2025：
- An official investigation into Liu Wei was announced.
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