The Central Commission for Discipline Inspection has just released the news that Wang Bin, Secretary of the Party committee and chairman of China Life Insurance Company Limited(601628) insurance (Group) company, is suspected of serious violation of discipline and law. At present, he is subject to discipline review, supervision and investigation by the Central Commission for Discipline Inspection and the State Supervision Commission.
According to the official website, Wang Bin, born in 1958, is the party secretary and chairman of the company. He graduated from Nankai University with a doctoral degree, a doctoral degree in economics and a researcher. He has been in his current position since August 2018. He once served as chairman and party secretary of China Taiping Insurance Group, Bank Of Communications Co.Ltd(601328) executive director, vice president and member of the Party committee.
Wang Bin was born in November 1958 in Harbin, Heilongjiang Province. He has a master’s degree in money and banking from Southwest University of Finance and economics and a doctor’s degree in finance from Nankai University. He once served as director of the Secretariat of the general office of the people’s Bank of China, director of the office of the Agricultural Development Bank of China and President of Bank Of Communications Co.Ltd(601328) Beijing Branch.
In June 2010, Wang Bin was promoted to Bank Of Communications Co.Ltd(601328) executive director, vice president and President of Beijing management department. In March 2012, he was transferred to the chairman and party secretary of China Taiping Insurance Group. He has been in his current position since September 2018.
It was noted that Wang Bin’s last public appearance was on December 29 last year. On the same day, China Life Insurance Company Limited(601628) group member Guangyin Wealth Management Co., Ltd. (hereinafter referred to as “Guangyin wealth management”), a wholly-owned subsidiary of Guangfa bank, held an unveiling ceremony in Shanghai, becoming the seventh bank wealth management subsidiary officially inaugurated and established by China’s joint-stock bank. Wang Bin unveiled the “Guangyin financial management” at the event.
It is worth mentioning that shortly before Wang Bin’s sacking, the eleventh inspection team of the Central Committee just inspected China Life Insurance Company Limited(601628) group. In early October 2021, during the eighth round of inspection of the 19th Central Committee, the eleventh inspection team of the Central Committee entered China Life Insurance Company Limited(601628) group for a period of two months.
The inspection team said at the work mobilization meeting that according to the regulations on inspection work, the central inspection team mainly accepts letters, calls and visits reflecting the problems of the leading group of the Party committee of China Life Insurance Company Limited(601628) group and its members, the main principals of the leading group of the next level party organization and leading cadres in important positions, focusing on violations of political discipline, organizational discipline, integrity discipline, mass discipline Report and reflect on work discipline and life discipline. Other petition issues that do not fall within the scope of inspection acceptance will be seriously handled by China Life Insurance Company Limited(601628) group and relevant departments according to regulations.
Ironically, at that time, Wang Bin also stated at the mobilization meeting that he should strengthen his political responsibility, take the inspection as an opportunity to promote the high-quality development of the company, better meet the needs of the people and the real economy for high-quality financial and insurance services, and promote the party’s line, principles and policies and the decision-making and deployment of the Party Central Committee to take root in China Life Insurance Company Limited(601628) , And make due contributions to building a powerful modern socialist country in an all-round way
Wang Bin’s resume
Since 1975, he has successively worked in the educated youth farm of Heilongjiang Nancha hydrolysis plant and the third company of Pipeline Bureau of the Ministry of petroleum.
From July 1983 to July 1985, he worked successively in the Department of Commerce and the Structural Reform Commission of the people’s Government of Heilongjiang Province;
From July 1985 to September 1990, he successively served as deputy section chief, secretary at the section level and secretary at the deputy department level of the general office of the people’s Government of Heilongjiang Province;
From September 1990 to June 1991, he served as deputy director of the office of Heilongjiang Branch of the people’s Bank of China;
From June 1991 to December 1993, he served as secretary and director of the Secretariat of the general office of the people’s Bank of China;
From December 1993 to January 2000, he successively served as the head of the preparatory group office, deputy director of the office, director of the office, vice president of Jiangxi branch and President of Jiangxi branch of Agricultural Development Bank of China;
From January 2000 to December 2002, he successively served as vice president of Bank Of Communications Co.Ltd(601328) Beijing Branch, President and party secretary of Tianjin Branch;
From December 2002 to May 2005, served as president and party secretary of Bank Of Communications Co.Ltd(601328) Beijing Branch;
From May 2005 to June 2010, Bank Of Communications Co.Ltd(601328) vice president and President of Beijing management department;
From June 2010 to March 2012, Bank Of Communications Co.Ltd(601328) executive director, vice president and President of Beijing management department;
From March 2012 to September 2018, chairman and party secretary of China Taiping Insurance Group;
September 2018 -, China Life Insurance Company Limited(601628) chairman and Secretary of the Party committee of the insurance (Group) company.
Deputy to the 19th CPC National Congress and member of the social and Legal Affairs Committee of the 13th National Committee of the Chinese people’s Political Consultative Conference.
As of January 7, China Life Insurance Company Limited(601628) closed at 30.54 yuan, with a market value of more than 700 billion yuan.
(source: China Fund News)
