Corruption: Wang Bin, ex-Chairman of China Life Insurance, receives a suspended death sentence

Wang Bin, former Chairman of China Life Insurance, is the latest financial sector executive to be incarcerated as Beijing carries on with its campaign against corruption.

On 12 September 2023, W. Bin was given a two-year suspended death sentence, which will be commuted to life in prison without the possibility of parole.

The former boss was found guilty of accepting bribes amounting to 325 million CNY (44.6 million USD) and illegally hiding 54.2 million CNY (7.4 million USD) in overseas deposits.