Tang ruoxin's violation of discipline

In February 2008, the CIRC found that Tang Ruoxin had violated laws and regulations during the inspection. In order to mitigate risks, on April 17, 2008, the CIRC decided to remove Tang Ruoxin from his post, and launched an investigation with relevant departments on the above issues. Regarding the survey results, the China Insurance Regulatory Commission disclosed this time: "After several months of investigation, it was basically found that Tang Ruoxin abused his power and sought huge benefits for specific stakeholders. Tang Ruoxin met with Vice Governor Fang Xiaoyu, causing heavy losses of state-owned assets; Using the convenience of his position to seek benefits for others, I or my family accept huge amounts of property from others and other serious violations of discipline and law. "

It is reported that Tang Ruoxin was involved in the "Long Changsheng Case" in Shanghai. Long Changsheng, former chairman and general manager of Shanghai Hongsheng Technology Development Co., Ltd., was arrested by Shanghai Public Security Bureau in March 2008 on suspicion of evading foreign exchange, making false capital contributions and withdrawing capital contributions. Tang Ruoxin is related to the huge loans overdue case of Hongsheng Technology. It is reported that China Xinbao has illegally provided financing guarantee to Hongsheng Technology and its subsidiaries, helping Hongsheng Technology to obtain huge bank loans. As a guarantor, China Xinbao repaid overdue loans to banks on behalf of Hongsheng Technology for more than 245 million US dollars.

The China Insurance Regulatory Commission disclosed on the 5th that Tang Ruoxin was criminally detained by the procuratorate on August 7, 2008 for "suspected bribery" and was arrested according to law on August 2 1. On February 2, 65438, after research by the Supervision Bureau of the Commission for Discipline Inspection of the China Insurance Regulatory Commission, Tang Ruoxin was immediately expelled from the Party membership and public office. Tang Ruoxin's procuratorate suspected of committing a crime is continuing to investigate. After Tang Ruoxin was removed from office, Wang Yi, the former president of China People's Property Insurance Co., Ltd., was transferred to China Xinbao on April 18, 2008 as Party Secretary and General Manager.