CHINA’S Communist Party has expelled the nation’s former top insurance regulator and the head of the finance ministry’s anti-graft committee after an anti-corruption watchdog said investigations found serious violations of Party discipline.
In a statement on its website on Saturday, the Central Commission for Discipline Inspection said an investigation had determined that Xiang Junbo, former chairman of the China Insurance Regulatory Commission, had “committed serious violations of political discipline and rules” in order to serve personal political interests.
The statement also said Xiang was suspected of bribery and accused him of “engaging in superstitious activities.”
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 took advantage of his posts to seek profits for others and accepted a huge amount of property, it added.
Xiang will be handed over to legal authorities, the statement said, meaning he will be prosecuted.
Xiang, who also served as a member of the central bank’s monetary policy committee, was removed from his position in April for suspected “serious disciplinary violations,” a phrase that usually refers to graft.
He is the most senior financial regulator to be targeted in ongoing fight against corruption.
Xiang was previously a deputy central bank governor and National Audit Office vice chief.
Mo Jiancheng, appointed top graft buster at the Ministry of Finance in December 2015, was also expelled from the Party after an investigation found he had “seriously violated the spirit of political discipline,” was suspected of bribery and had accepted invitations to banquets, the statement said.
Mo was also a member of the ministry’s Party committee and had been deputy Party secretary and vice governor of east China’s Jiangxi Province.
Mo acted against the Party’s frugality code and attended lavish banquets, and he took bribes to help other people gain promotions, the statement said.
Mo took advantage of his posts to seek profits for others and accepted a huge amount of property, the statement said.
As a senior official, he lost his faith in the Party. He showed no signs of restraint and his wrongdoings were of a grave nature.
Mo’s illegal gains will be confiscated and his case transferred to the judiciary.