BEIJING, Sept. 23 (Xinhua) -- Xiang Junbo, former chairman of China Insurance Regulatory Commission (CIRC), was expelled from the Communist Party of China (CPC) and dismissed from public office for corruption and violating the Party's code of conduct.
Xiang acted against the Party's eight-point frugality code, attended lavish banquets, and have long engaged in superstitious activities, according to a statement released by the CPC Central Commission for Discipline Inspection (CCDI).
He refused to cooperate with the Party's investigation, failed to report personal information, traded power for sex and was engaged in for-profit activities, the statement said.
Xiang, suspected of taking bribes, took advantage of his posts to seek profits for others and accepted a huge amount of property, it said.
As a senior official of the CPC, he lost his faith in the Party. Xiang's wrongdoings were of a grave nature, and he should be punished severely, said the statement.
Xiang's illegal gains will be confiscated and his case transferred to the judiciary, it added.