Guan Cha Zhe Wang·2025-12-26 10:21Core Points - The Central Commission for Discipline Inspection and the Jiangxi Provincial Supervisory Commission are investigating Yang Chao, the former Party Secretary and President of China Life Insurance (Group) Company, for serious violations of discipline and law [1][2] - Yang Chao is accused of losing his ideals and beliefs, being disloyal to the Party, and violating various regulations, including accepting gifts and banquets, misusing public vehicles, and engaging in corrupt practices [1][2] Summary by Sections Investigation Findings - Yang Chao, as a senior leader in a financial state-owned enterprise, has been found to have serious political and organizational discipline violations, including accepting bribes and abusing his power for personal gain [2] - His actions have been characterized as typical corruption in the investment sector, involving illegal acceptance of substantial financial benefits [1][2] Disciplinary Actions - The Party has decided to expel Yang Chao from the Party and cancel his benefits, while also confiscating his illegal gains [2] - His case has been referred to the Jiangxi Provincial Supervisory Commission for criminal prosecution, along with the related assets [2] Background Information - Yang Chao was born in 1950 and has an extensive career in the insurance and banking sectors, having held various leadership positions before becoming the President of China Life Insurance in 2005 [4] - He retired in 2011 and was under investigation 14 years later, highlighting the long-term implications of his actions [4]