Key facts
- Yu Xiaoping, a former vice president of PICC, is under investigation for corruption.
- Yu Xiaoping retired nearly nine years ago.
- The investigation into Yu Xiaoping highlights Beijing's financial anti-graft campaign.
- An executive at Bank of China's Ningbo branch is under investigation.
- The Bank of China executive is suspected of corruption.
- The investigation is linked to a $6.8 billion bad loan scandal.
- The bad loans are connected to a Hong Kong property tycoon's stalled project.
Yu Xiaoping, identified as a former vice president of The People's Insurance Co. (Group) of China Ltd. (PICC), is currently under investigation for corruption. Notably, this probe comes nearly nine years after Yu Xiaoping retired from his position. The investigation into Yu Xiaoping is presented as an example of the broad and persistent reach of Beijing's financial anti-graft campaign, which continues to target individuals within the financial sector.