FINANCE

Former Shanghai Insurance Exchange Chairman Gets 12 Years for Bribery

Published: Apr. 30, 2026 3:46 p.m. GMT+8

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Ren Chunsheng.

A Chinese court on Thursday sentenced Ren Chunsheng, a former chairman of the Shanghai Insurance Exchange, to 12 years in prison for accepting bribes.

The court also fined him 1.5 million yuan ($219,300) and ordered the confiscation of illicit gains.

Ren’s investigation surfaced in 2024, shortly after he stepped down from his role at the exchange. At the time, he was leading a preparatory group for a complaint mediation center under the National Financial Regulatory Administration, China’s top financial watchdog.

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Chinese court sentenced Ren Chunsheng, ex-chairman of Shanghai Insurance Exchange, to 12 years for bribes.
Fined 1.5 million yuan ($219,300); illicit gains confiscated.
Expelled from Communist Party for bribery, illegal stock trading, superstitious activities.

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Who’s Who

Shanghai Insurance Exchange: Ren Chunsheng, former chairman of the Shanghai Insurance Exchange, was sentenced to 12 years in prison for bribery, fined 1.5 million yuan ($219,300), and had illicit gains confiscated. The probe started in 2024 after he stepped down.

AI generated, for reference only