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Former Chairman of New China Life Insurance Wan Feng Expelled from China Communist Party for Corruption & Bribery
24th June 2023 | Hong Kong
Former Chairman of New China Life Insurance Wan Feng had been expelled from the China Communist Party for corruption & bribery. China Central Commission for Discipline Inspection (CCDI) issued a statement that Wan Feng had received huge bribes, and in return, provided access to investments, deals & contracts. New China Life Insurance Co (also known as New China Insurance, NCI) is owned more the China government (sovereign wealth fund Central Huijin), Baosteel Group and China Securities Finance.
“ Former Chairman of New China Life Insurance Wan Feng Expelled from China Communist Party for Corruption & Bribery “
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New China Life Insurance Company
New China Life Insurance Company Ltd. (“NCI”) was founded in September 1996, with its headquarters in Beijing. NCI is a large life insurance company and owns subsidiaries including New China Asset Management Co., Ltd., Xinhua Village Seniors Service (Beijing) Co., Ltd., New China Electronic Commerce Co., Ltd., New China Health Technology (Beijing) Co., Ltd., New China Pension, Co., Ltd. and New China Life Excellence Health Investment Management Co., Ltd. etc. In 2011, NCI was dually listed on the Hong Kong Stock Exchange and Shanghai Stock Exchange with H-share code of 01336 and A-share code of 601336.
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