Party expels former insurance regulator

The former chairman of China Insurance Regulatory Commission, Xiang Junbo, has been expelled from the Communist Party of China and dismissed from public office for corruption and violating the Party's code of conduct, according to a statement released by the Central Commission for Discipline Inspection on Saturday.

Xiang violated the Party's eight-point frugality code, attended lavish banquets and had long engaged in superstitious activities, the CCDI said.

He refused to cooperate with the Party's investigation, failed to report personal information, traded power for sex and was engaged in for-profit activities, the statement said.

Xiang, who is suspected of taking bribes, took advantage of his position for the profit of others and accepted a large amount of property in return, it said.

As a senior official, Xiang lost his faith in the Party, and his wrongdoings were of a grave nature. He should be punished severely, the statement said.

Xiang's illegal gains will be confiscated and the matter will be transferred to judicial authorities, it added. In a separate case, Mo Jiancheng, a former member of the CPC Committee of the Ministry of Finance, was expelled from the Party and dismissed from public office for violating the Party's code of conduct. Mo acted against the Party's eight-point frugality code, attended lavish banquets, and took bribes to help other people gain promotions, according to a statement by the CCDI, the country's top anti-graft watchdog.

Mo took advantage of his position to benefit others and also accepted a large amount of property, the statement said.

While a senior official, Mo lost his faith in the Party, it said, noting that even after the 18th CPC National Congress in 2012, he still showed no restraint. His wrongdoings were also of a grave nature, the statement said.

Mo's illegal gains will be confiscated and his case will be transferred to the judiciary, it added.

Mo, who was born in 1956, led the disciplinary inspection team sent by the CCDI to the Finance Ministry.

Xinhua