Source: brokerage China

Fight against corruption with heavy punches!

On the afternoon of May 7, according to the website of the Central Commission for discipline Inspection, Ren Chunsheng, head of the preparatory group of the Complaints and Mediation Center of the State Financial Supervision and Administration, was investigated. Recently, Ren Chunsheng stepped down as chairman of the Shanghai Insurance Exchange. Soon after, the media reported that he had disappeared after arriving in Beijing from Shanghai on April 30.

On the same day, the Intermediate people's Court of Qingdao City, Shandong Province publicly sentenced Li Guohua, former deputy secretary of the party group and general manager of China United Network Communications Group Co., Ltd., for accepting bribes and abusing his power, and decided to sentence the defendant Li Guohua to 16 years' imprisonment and a fine of 6 million yuan.

Ren Chunsheng was investigated

Ren Chunsheng, who has been missing for a week, has been investigated!

On May 7, according to the discipline inspection and supervision team of the Central Commission for discipline Inspection in the State Administration of Financial Supervision and Administration and the Supervision Commission of the Beijing Municipal Commission for discipline Inspection, Ren Chunsheng, head of the preparatory group of the complaint Mediation Center of the State Administration of Financial Supervision and Administration, is suspected of serious violations of discipline and the law. He is currently under investigation by the discipline inspection and supervision team of the Central Commission for discipline Inspection in the State Administration of Financial Supervision and Administration and the supervision committee of Tongzhou District in Beijing.

In April this year, the third inspection team of the CPC Central Committee held a mobilization meeting on the work of the party committee of the State Financial Supervision and Administration and announced that it would work for the State Financial Supervision and Administration for about three months.

According to public information, Ren Chunsheng was the former director of the Finance and Accounting Department (solvency Supervision Department) of the CIRC.CrashbandicootfornintendoswitchIn April 2016, he was appointed director of the insurance fund application supervision department of the CIRC; after the institutional reform in August 2018, Ren Chunsheng was appointed director of the insurance fund use supervision department of the CBRC.

In February 2019, Ren Chunsheng was transferred to PICC Investment as secretary of the party committee and then chairman of the board. In July 2021, Ren Chunsheng became the second chairman of the Shanghai Insurance Exchange, as well as the party committee secretary and chairman of the PICC Investment Co., Ltd.

The Shanghai Insurance Exchange was established with the approval of the State Council in November 2015 and officially opened on June 12, 2016. The company is established by 91 shareholders with an initial registered capital of 22Crashbandicootfornintendoswitch3.5 billion yuan, registered in the Shanghai Free Trade Zone. As an important national financial infrastructure, the Shanghai Insurance Exchange is positioned to provide basic public services such as systems, rules and standards for all kinds of insurance activities such as insurance, reinsurance and insurance asset management. we will promote the interconnection of insurance supply and demand, promote cost reduction and efficiency of the whole industry chain, and create a win-win situation in the whole ecosystem, so as to create a leading insurance trading market in the world.

PICC Investment Co., Ltd. is an important investment platform for the insurance industry. according to the State Council's Plan for the Establishment of China Insurance Investment Fund, PICC Investment Co., Ltd. is the general partner of China Insurance Investment Fund. responsible for fund establishment, fund raising and management, and was established in December 2015. It is funded by 27 insurance companies, 15 insurance asset management companies and 4 social capital, a total of 46 shareholder units. According to media reports, Ren Chunsheng carried out a number of investment activities during his tenure as chairman of the PICC Investment Co., Ltd.

According to reports, the total size of China's insurance investment fund is about 300 billion yuan, with a down payment of 100 billion yuan and a duration of 5 to 10 years. Fund investment forms mainly include listed and unlisted equity, preferred shares, debt, asset securitization products, as well as equity funds, M & A funds, mezzanine funds and other investment funds.

In addition, a Chinese reporter from a securities firm learned today that Wang Zhe, deputy secretary of the party committee, executive director, and president of the Bank of China Insurance Information Technology Management Co., Ltd. (hereinafter referred to as "Bank of China Insurance Trust"), was recently transferred to the post of party committee secretary and chairman of the Shanghai Insurance Exchange. Before May Day, the relevant departments announced this arrangement in the company. Wang Zhe has now come to the Shanghai Insurance Exchange to get familiar with his work. Wang Zhe was the former director of the General Information Department of the Insurance Regulatory Commission, participated in the preparation of China Insurance Trust in 2013, and later became vice president of the company. In March 2019, Wang Zhe was appointed Deputy Secretary of the Party Committee of Banco Credit of China and proposed to be president of the company; on June 28, Wang Zhe officially became president of the company.

Li Guohua was sentenced to 16 years in the first instance

On the afternoon of May 7, Li Guohua, former general manager of China Unicom, made the latest progress in the case of bribery and abuse of power.

On the same day, the Intermediate people's Court of Qingdao City, Shandong Province publicly sentenced Li Guohua, former deputy secretary of the party group and general manager of China United Network Communications Group Co., Ltd., to bribery and abuse of power, and sentenced the defendant Li Guohua to 15 years' imprisonment for the crime of accepting bribes. he was also sentenced to a fine of 6 million yuan; he was sentenced to 3 years' imprisonment for the crime of abuse of power and decided to execute 16 years' imprisonment and a fine of 6 million yuan. The proceeds and fruits of Li Guohua's crime shall be recovered in accordance with the law and handed over to the state treasury.

It was found out after trial that from 1998 to 2022, the defendant Li Guohua served as member and deputy director of the party group of Jiangxi Provincial Post and Telecommunications Administration, deputy secretary and deputy director of Jiangxi post bureau, party group member and deputy director of the State Post Bureau, member of the party group and deputy general manager of China Post Group, deputy secretary of the party group, general manager, secretary and general manager of the party group. The convenience of the positions of party committee secretary and chairman of the board of directors of the Postal savings Bank of China Co., Ltd., as well as the convenient conditions for the formation of authority or status, provide assistance to relevant units and individuals in project contracting, enterprise operation, job promotion and other matters, directly or throughCrashbandicootfornintendoswitchThe illegal receipt of property by others amounts to more than 66.45 million yuan, of which more than 21.59 million yuan has not been actually obtained. When Li Guohua was secretary and director of the party group of the Jiangxi Post Bureau, and a member of the party group and deputy director of the State Post Bureau, he abused his power, resulting in a loss of more than 49.96 million yuan in state-owned assets.

The Qingdao Intermediate people's Court held that the actions of the defendant Li Guohua constituted the crime of accepting bribes and abusing his power. The amount of bribes accepted by Li Guohua is particularly huge, and the circumstances of abuse of power are particularly serious, which should be punished in accordance with the law and punished together for several crimes. In view of the fact that some of Li Guohua's bribery was an attempt, after arriving at the case, he truthfully confessed his crimes, took the initiative to confess some of the facts of the crime of accepting bribes that had not yet been mastered by the supervisory organs, pleaded guilty, actively returned stolen goods, and all stolen money and property had been recovered, which had the circumstances of statutory and discretionary lighter punishment, and could be given a lighter punishment in accordance with the law. The court then made the above judgment.

According to public data, Li Guohua was born in March 1960 in Dean, Jiangxi Province. in his early years, he worked in Jiangxi posts and Telecommunications system, and served as Deputy Director of Jiujiang Post and Telecommunications Bureau, Director of Fuzhou Post and Telecommunications Bureau, Deputy Director of Jiangxi Post and Telecommunications Administration, Deputy Director and Director of Jiangxi Post Bureau. In 2005, Li Guohua was appointed Deputy Director and Party member of the State Post Bureau, Deputy General Manager and Party member of China Post Group in 2006, and General Manager of China Post Group in 2011. Later, he served as chairman and party committee secretary of China Postal savings Bank Co., Ltd.

In 2018, Li Guohua became director, general manager and deputy secretary of the party group of China United Network Communications Group Co., Ltd. In March 2020, Li Guohua reached retirement age and resigned from China Unicom.

On February 18, 2022, Li Guohua official Xuan was investigated. On September 30 of the same year, the website of the Central Commission for discipline Inspection and the State Supervisory Commission released a message that he was expelled from the party.

Since last year, many people have been investigated by China Unicom. In February this year, Meng Xiangsen, member of the party committee and deputy general manager of China Unicom's Hainan Branch, was suspected of serious violations of discipline and law, and was subject to discipline examination and supervision investigation by China Unicom's discipline inspection and supervision team and the Hebei Provincial Supervisory Commission. In January, Wang Yingpei, former general manager of China Unicom's value-added business, was investigated for serious violations of discipline and law. In December last year, Deng Xuan, former party committee member and deputy general manager of China Unicom Shanghai Branch, was investigated for serious violations of discipline and law.