BEIJING (Reuters) - China’s insurance regulator said it will resolutely investigate and deal with illegal activities in the market, a day after the organization’s head was put under investigation for suspected disciplinary violations.
Beijing’s top anti-graft body said on Sunday that Xiang Junbo, head of the China Insurance Regulatory Commission (CIRC) and a member of the central bank’s monetary policy committee, was suspected of committing “serious disciplinary violations” - a phrase that usually refers to graft.
The regulator said in a statement late on Monday that it would tackle disorder in the insurance market and maintain high vigilance and fend off financial risk.
Reporting by Beijing Newsroom. Writing by Dominique Patton. Editing by Nick Macfie