Li Quan, former chairman of China State -owned Holding Listed Life Insurance Company and former chairman of Xinhua Life Insurance, was arrested for corruption and bribery.
According to the WeChat public account of the Supreme People's Procuratorate of China on Saturday (October 12), the former party secretary and chairman of Xinhua Life Insurance Co., Ltd. Li Quan was suspected of corruption and bribery.End, transfer to the procuratorial organs for review and prosecution.
After the jurisdiction designated by the Supreme Procuratorate, the Shandong Provincial People's Procuratorate made a decision to arrest Li Quan in accordance with the law for corruption and bribery.The case is being handled.
Li Quan retired from the chairman of Xinhua Insurance last August.The Chinese media quoted news in April this year that Li Quan may have spread the news of "accidents" for several months.
On September 30th of the State Supervision Commission of the Communist Party of China Discipline Inspection Commission of the Communist Party of China, the official announced the report on the investigation and investigation of Li Quan's serious violations of discipline and violations.Giant property and so on.
Xinhua Insurance's largest shareholder is the Central Huijin, which belongs to the company in the CIC system.
Wan Feng, another retired chairman of Xinhua Insurance, lost contact at the end of 2022 and was expelled from the party in June 2023.The official report shows that Wanfeng uses the convenience of his position to seek benefits for others in terms of project procurement and engineering contracting. He has illegally received about 12.09 million yuan (RMB S $ 2.2 million), of which 10 million yuan is attempted.
In December 2023, Wanfeng was sentenced to six years and six months in prison in the first instance.
