On January 13, Chinese Life Insurance Co., Ltd. issued an announcement that in view of the fact that executive director Wang Bin was suspected of serious violations of discipline and laws, he was currently under disciplinary review and supervision and investigation by the State Supervision Commission of the Central Commission for Discipline Inspection, and could not perform the duties of chairman, and the board meeting elected Yuan Changqing, a non-executive director of the company, to perform the duties of chairman and legal representative.
Thought to be the original text of the announcement: