Former China Life Insurance Chairman Wang Bin Expelled by CCP

As reported on the afternoon of September 1st, the former Party Secretary and Chairman of China Life Insurance Group Wang Bin was expelled from the Party and public office.

Wang Bin was investigated by the Central Commission for Discipline Inspection earlier this year. Wang Bin is one of the most important figures under Wang Qishan. China Life Insurance Group is a key platform for funneling money, loans, financing and bills to the children of top officials of the Chinese Communist Party (CCP). Wang Bin took the hard-earned money of Laobaixing (the Chinese ordinary people) to support the children of the CCP’s high officials.

Wang Bin himself lived an extremely extravagant life, loving to buy watches and collect antiques, paintings and furniture. In 2006, Wang Bin spent 2 billion yuan on timber alone, and today it would be more than 10 billion yuan.

Wang Qishan’s important figures include Kang Dian, Tian Guoli, Tian Huiyu, Zhou Liang, while Wang Bin is second only to these people. Miles Guo revealed that as long as the CCP does not investigate Wang Bin, Ma Mingzhe, Dong Wenbiao and Fan Yifei, Wang Qishan will be fine. Since Wang Bin was investigated at the beginning of the year, Wang Qishan’s fate has become a foregone conclusion.

Now Wang Bin has been expelled, which was Xi’s usual move before the 20th National Congress. However, Wang Qishan, Zeng Qinghong, Meng Jianzhu and the Jiang family haven’t had the guts to rebel against Xi Jinping.