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China anti-graft watchdog probes China Life Insurance chairman

Wang Bin accused of 'serious violations of discipline and the law'

China Life Insurance Chairman Wang Bin is under investigation by the Central Commission for Discipline Inspection, part of a crackdown on alleged corruption in the financial industry.   © Reuters

SHANGHAI (Reuters) -- China's Central Commission for Discipline Inspection (CCDI) has placed Wang Bin, the chairman of China Life Insurance Co Ltd, under investigation, the bureau said on Saturday.

Wang is "suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and investigation," the anti-graft watchdog wrote in a statement.

China's CCDI has recently placed the country's financial sector under scrutiny.

In October, the bureau deployed teams to 25 financial institutions including the central bank and stock exchanges as part of a campaign to weed out corrupt officials.

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