Former deputy general manager of China Taiping Insurance expelled from CPC, public office

BEIJING, Jan. 5 (Xinhua) -- Xiao Xing, a former deputy general manager of state-owned China Taiping Insurance Holdings Company Limited, has been expelled from the Communist Party of China (CPC) and dismissed from public office over severe violations of discipline and law.

The decision came following an investigation by the CPC Central Commission for Discipline Inspection and the National Commission of Supervision upon the approval of the CPC Central Committee.

The investigation found that Xiao had engaged in superstitious activities, resisted investigation, and accepted gifts and money in violation of regulations, as well as banquets and travel activities that may affect the fairness of his performance of duties.

Xiao was also found to have abused his power to seek benefits for others in the employment of employees and other areas, illegally owned shares of unlisted companies, and took advantage of his position to seek profits for others in project financing, business cooperation, and other aspects, and illegally accepting a huge amount of property in return, among other misdeeds.

These actions have gravely breached Party discipline and constitute serious duty-related crimes. Xiao is also suspected of criminal offenses of accepting bribes, according to the statement.

In line with Party regulations and laws, the decision was made to expel Xiao from the Party and dismiss him from public office.

Xiao's illicit gains will also be confiscated, and his case will be transferred to the procuratorial authority for further examination and prosecution per the law, said the statement.