Wang Bin (executive)

Wang Bin
Wang Bin
王滨
Born	November 1958 (age 65); Harbin, Heilongjiang, China
Alma mater	Southwestern University of Finance and Economics; Nankai University
Occupation(s)	Business executive, economist
Years active	1975–2022
Political party	Chinese Communist Party (1985–2022; expelled)
Chinese name
Traditional Chinese	王濱
Simplified Chinese	王滨
Hanyu Pinyin
Transcriptions
Standard Mandarin
Hanyu Pinyin	Wáng Bīn

Wang Bin (Chinese: 王滨; born November 1958) is a former Chinese business executive and senior economist who served as chairman and party secretary of China Life Insurance Company from 2018 to 2022 and chairman and party secretary of China Taiping Insurance Group Limited [zh] from 2012 to 2018. As of January 2022 he was under investigation by China's top anti-corruption agency. He was a representative of the 19th National Congress of the Chinese Communist Party and a member of the Social and Legal Affairs Committee of the 13th National Committee of the Chinese People's Political Consultative Conference.^[1]^[2]

Biography

Wang was born in Harbin, Heilongjiang, in November 1958. During the late Cultural Revolution, he worked as a sent-down youth in a farm of his home-province. Beginning in July 1983, he served in several posts in Heilongjiang Provincial People's Government, including staff of Department of Commerce, staff of Economic Reform Commission, and secretary of General Office of Heilongjiang Provincial People's Government. He joined the Chinese Communist Party in February 1985.

In September 1990, he became deputy director of Heilongjiang Branch Office of the People's Bank of China, and nine months later, he was transferred to Beijing and appointed head of Secretariat of the General Office of the People's Bank of China. He served in various posts in the Agricultural Development Bank of China before serving as president of Tianjin Branch of the Bank of Communications in January 2000. In December 2002, he was appointed president of Beijing Branch of the Bank of Communications. After this office was terminated in May 2005, he became vice president of the Bank of Communications, serving until March 2012.

In March 2012, he was appointed chairman and party secretary of China Taiping Insurance Group Limited [zh], a position at vice-ministerial level, he remained in that position until September 2018, when he was made chairman and party secretary of China Life Insurance Company.^[3]

Downfall

On 8 January 2022, Wang was put under investigation for alleged "serious violations of discipline and laws" by the Central Commission for Discipline Inspection (CCDI), the party's internal disciplinary body, and the National Supervisory Commission, the highest anti-corruption agency of China.^[4]^[5] On September 1, he was expelled from the CCP and dismissed from public office.^[6] On 12 September 2023, Wang was sentenced to death, suspended for two years, then commuted to a life sentence with no possibility of parole, in an order by the intermediate court in Jinan, Shandong.^[7] he was found guilty of taking 325 million yuan in bribes and illegally hiding 54.2 million yuan in overseas accounts.^[8]

References

^ Yi Yi (伊一) (21 July 2017). 中央金融系统选举产生44名出席党的十九大代表(名单). ce.cn (in Chinese). Retrieved 8 January 2022.
^ Feng Wenya (冯文雅) (16 March 2018). （受权发布）中国人民政治协商会议第十三届全国委员会各专门委员会委员名单. xinhuanet.com (in Chinese). Retrieved 8 January 2022.
^ Chen Tingting (陈婷婷) (7 September 2018). 中国人寿集团新一届领导班子亮相：王滨履新董事长. thepaper (in Chinese). Retrieved 8 January 2022.
^ "China Life Insurance Chair Wang Bin Under State Anti-Graft Probe". bloomberg.com. 8 January 2022. Retrieved 8 January 2022.
^ 2022年“首虎”，张永泽落马、王滨被查. sina (in Chinese). 8 January 2022. Retrieved 8 January 2022.
^ Wu Yujian (吴雨俭) (1 September 2022). 制造金融风险、大搞金融腐败国寿原董事长王滨被“双开”. caixin.com (in Chinese). Retrieved 1 September 2022.
^ He, Laura (2023-09-13). "Chinese insurance boss sentenced to life in jail for corruption | CNN Business". CNN. Retrieved 2023-09-13.
^ "China insurance boss jailed for life in corruption crackdown". BBC News. 2023-09-13. Retrieved 2023-09-13.

Business positions
Preceded by Yang Mingsheng [zh]	Chairman of China Life Insurance Company 2018–2022	Succeeded by Bai Tao
Party political offices
Preceded by Yang Mingsheng [zh]	Communist Party Secretary of China Life Insurance Company 2018–2022	Succeeded by Bai Tao