Former Insurance Boss Expelled from Communist Party Over Corruption Charges

Li Quan, former chief and chairman of New China Life Insurance, has been expelled from the Communist Party for serious disciplinary violations. China's anti-graft body found him guilty of accepting bribes and misusing power for personal gain.

Li Quan, the former party chief and chairman of state-run New China Life Insurance, has been expelled from the Communist Party for violating serious disciplinary and legal standards, according to Chinese state broadcaster CCTV.

The investigation led by China's anti-graft body revealed that Li was implicated in accepting bribes and abusing his official power to secure profits for others in business deals and investment ventures.

Li's expulsion underscores the ongoing anti-corruption efforts within the party, targeting high-ranking officials involved in misconduct.

(With inputs from agencies.)