Former Vice President of China People's Insurance Company Yu Xiaoping is under investigation on suspicion of serious violations of the law. This was reported by Xinhua News Agency, citing the Central Commission for Discipline Inspection of the Communist Party of China and the State Supervisory Committee.
From 2010 to 2014, he was the chief investment officer of China People's Insurance Company. In October 2013, he became its vice president. Yu Xiaoping was also a member of the company's party committee. He retired in 2017.
Usually, the Central Commission for Discipline Inspection of the Communist Party of China and the State Supervisory Committee launch investigations into suspected corruption.
In recent years, Chinese anti-corruption authorities have stepped up their crackdown on the insurance sector. In November 2025, former chairman of the board of New China Life Insurance, Li Quan, was sentenced to death, suspended for two years, on bribery charges.
The fight against corruption in China intensified with Xi Jinping coming to power in 2012. One of the slogans of the fight against corruption was the call of the President of the People's Republic of China to “kill flies and tigers“ - to expose corruption at all levels. Over the past few years, as a result of a large-scale anti-corruption campaign, high-ranking officials, heads of large companies, and ordinary employees have been deprived of their posts and given life sentences.