According to the website of the Central Commission for Discipline Inspection and the National Supervisory Commission, with approval from the CPC Central Committee, the Central Commission for Discipline Inspection and the National Supervisory Commission have initiated an investigation into Yu Xiaoping, former member of the Party Leadership Group and Vice President of PICC Group Co., Ltd., for serious violations of discipline and law.
An investigation found that Yu Xiaoping has lost his ideals and convictions, abandoned his original aspirations and mission, and resisted organizational review. He violated organizational principles by improperly seeking benefits for others in the hiring process. He breached integrity standards by illegally accepting gifts and using his position to secure advantages for relatives and friends. He failed to properly perform his duties, causing serious consequences. He treated public power as a tool for personal gain, leveraging his position to help others obtain loan waivers, expedite loan approvals, and other benefits, while illegally accepting substantial sums of money. Even after leaving office, he continued to exploit his former influence to solicit and accumulate wealth. He abused his authority, resulting in exceptionally severe losses to national interests.
Yu Xiaoping seriously violated the Party's political discipline, organizational discipline, integrity discipline, and work discipline. He committed serious violations of duty and is suspected of accepting bribes, using his influence to accept bribes, and abusing the power of personnel in state-owned companies. His actions have not ceased after the 18th National Congress of the Communist Party of China; they are of a serious nature and had a negative impact, warranting severe handling. In accordance with relevant provisions of the "Regulations on Disciplinary Actions of the Communist Party of China," the "Supervision Law of the People's Republic of China," the "Law on Administrative Sanctions for Public Officials of the People's Republic of China," and other regulations, and after deliberation by the Standing Committee of the Central Commission for Discipline Inspection and approval by the CPC Central Committee, it was decided to: expel Yu Xiaoping from the Party; cancel his entitled benefits as prescribed; confiscate all illicit gains obtained through disciplinary violations; and transfer the matters involving suspected crimes to the procuratorial organs for legal review and prosecution, along with all related assets.
