POLITICs
O
n May 5, 2017, the State Coun-
cil, China’s cabinet, announced
the removal of Xiang Junbo from
the post of the chairman of China Insurance
Regulatory Commission. Xiang is being in-
vestigated for alleged “serious violations ofthe Party’s code of conduct,” a euphemism
for corruption, according to an early an-
nouncement made by the top anti-graft au-
thority on April 9.
At the same time when the announcement
was made on April 9, China’s official govern-ment website released the full text of Premier
Li Keqiang’s speech delivered during the
clean governance conference held on March
21 in which he vowed to strictly crack down
on financial corruption. The pledge came as
the world’s second largest economy contin-Financial Corruption
Strengthened SCrutiny
China’s top disciplinary watchdog launched an anti-graft campaign against regulators and company
managers in the financial sector
By He Bin
Xiang Junbo Photo by cfp