On July 11, the Intermediate People’s Court of Xinxiang City, Henan Province held a first-instance public hearing on the bribery case of Xiao Xing, former party committee member, executive director and deputy general manager of China Taiping Insurance Group Co., Ltd.
was accused of taking bribes exceeding 81.48 million yuan. Xiao Xing pleaded guilty in court and repented.
Henan Province , Deputy Secretary General of Municipal Youth Federation, General Manager of Pudong New Area Branch of China Life Insurance Co., Ltd., Deputy Secretary of the Party Committee, Deputy General Manager, Secretary of the Party Committee and General Manager of Shanghai Branch of China Life Insurance Co., Ltd., Taiping Asset Management Co., Ltd. The convenience of the deputy secretary of the party committee, secretary of the party committee, general manager, member of the party committee, executive director, deputy general manager of China Taiping Insurance Group Co., Ltd., etc., as well as the convenient conditions for the formation of power or status, through the conduct of other state staff in their duties , providing assistance to relevant units and individuals in matters such as financing loans, business cooperation, job hunting, etc., and illegally receiving property directly or through others, totaling more than RMB 81.48 million. The prosecutor's office requested that Xiao Xing be held criminally responsible for accepting bribes.
During the trial, the procuratorate presented relevant evidence, and the defendant Xiao Xing and his defender conducted cross-examination. The prosecution and defense fully expressed their opinions under the auspices of the court. Xiao Xing made a final statement and expressed his guilt and repentance in court. At the end of the trial, the court adjourned and announced the verdict at a later date.
was investigated when he took office in July last year, and was "double-opened" in January this year
. According to previous reports from Nandu Bay Financial Society, in mid-July 2023, Xiao Xing was revealed to have lost contact. On July 18, 2023, according to the Central Commission for Discipline Inspection and the National Supervisory Commission, Xiao Xing, member of the Party Committee and Deputy General Manager of China Taiping Insurance Group Co., Ltd., was suspected of serious violations of discipline and law and was undergoing disciplinary review and supervisory investigation by the Central Commission for Discipline Inspection and the National Supervisory Commission. On the evening of the same day, China Taiping Hong Kong Stock Exchange announced that the board of directors announced that Xiao Xing would resign as executive director, deputy general manager, member of the corporate governance committee and member of the risk management committee of the company due to personal reasons, effective from July 18, 2023. .
According to news on January 5 this year, Xiao Xing was expelled from the party and public office. After investigation, Xiao Xing lost his ideals and beliefs, deviated from his original intention and mission, did not believe in Marxism-Leninism, ghosts and gods, engaged in superstitious activities, was disloyal and dishonest to the party, and resisted organizational review; ignored the spirit of the eight central regulations, accepted gifts and money in violation of regulations, and accepted gifts that may affect the fair execution. Arrangements for official banquets and travel activities; violate organizational principles, fail to truthfully report personal matters, use authority and violate regulations to seek benefits for others in employee recruitment; abandon the bottom line of integrity, use authority or the influence of position to seek benefits for relatives' business activities , arranging others to pay fees that should be paid by oneself, owning shares of unlisted companies in violation of regulations; trampling on party discipline and state laws, relying on finance, collecting money wantonly, and using the convenience of one's position to benefit others in project financing, business cooperation, etc., which is illegal Receive huge amounts of property.
Xiao Xing seriously violated the Party's political discipline, organizational discipline, integrity discipline and life discipline, constituted a serious job violation and was suspected of bribery crime, and did not restrain or stop after the 18th National Congress of the Party. The nature is serious and the impact is bad, so he should be punished. be dealt with seriously. In accordance with the "Regulations on Disciplinary Punishments of the Communist Party of China", the Supervision Law of the People's Republic of China, the Law of the People's Republic of China on Administrative Punishments for Public Servants and other relevant provisions, after study by the Standing Committee of the Central Commission for Discipline Inspection at a meeting and reported to the Central Committee of the Communist Party of China for approval, it was decided to expel Xiao Xing from the party; The National Supervisory Commission will impose a sanction of dismissal from public office; confiscate his illegal income; and transfer his suspected criminal issues to the procuratorate for review and prosecution in accordance with the law, and the property involved will also be transferred.
had worked in the China Taiping system for ten years.
Public information shows that Xiao Xing was born in December 1971 in Shangrao, Jiangxi. He graduated from Shanghai University and received a doctorate in law. Xiao Xing worked in the Shanghai Communist Youth League in his early years. He entered the insurance industry in 2005 and served as the general manager of the Shanghai Branch of China Life Insurance Co., Ltd., the chief supervisor of China Life Insurance (Overseas) Co., Ltd., and the director of China Life Trust Co., Ltd. long.
In 2013, Xiao Xing left China Life and moved to China Taiping, serving as director and general manager of Taiping Asset Management Co., Ltd. In 2017, he served as deputy general manager of China Taiping listed in Hong Kong. In 2018, he served as the deputy general manager of China Taiping Insurance Group and China Taiping Insurance Group (China Taiping Insurance Group). Hong Kong) deputy general manager, and concurrently serves as the chairman of Taiping Financial Services, chairman of Taiping Financial Services, director of Taiping Life, director of Taiping Property & Casualty Insurance, director and general manager of Taiping Pension and director of Taiping Assets. In June 2020, Xiao Xing served as a member of the party committee, executive director and deputy general manager of China Taiping Insurance Group until July 2023 when he was investigated. From 2013 to 2023, Xiao Xing has served in China Taiping Group for ten years.
It is worth mentioning that in 2022, Xiao Xing's salary from China Taiping will be 824,000 Hong Kong dollars (approximately RMB 756,300), and other subsidies will be 178,000 Hong Kong dollars (approximately RMB 163,400). In addition, the annual rent for the accommodation provided by China Taiping for Xiao Xing is approximately HK$599,000 (approximately RMB 549,800).
On July 18, 2023, Xiao Xing resigned as executive director, deputy general manager, member of the Corporate Governance Committee and member of the Risk Management Committee of China Taiping.
Written by: Nandu·Wancaishe reporter Luo Manyu
