Wang Qishan associate to become insurance regulator? – China’s latest political and current affairs news

Yang Xiaochao 杨晓超 is currently secretary general of the Central Commission for Discipline Inspection (CCDI), a key job at China’s top anti-corruption agency. The South China Morning Post reported on July 10 that he is the leading candidate to become the next head of the China Insurance Regulatory Commission (CIRC).

Why is this important? 

• CIRC is playing an increasingly important role in the central government as officials look to control risks in the finance industry. The former head of CIRC, Xiang Junbo 项俊波, is under investigation for corruption.
• It has been rumored that President Xi Jinping’s right-hand man Wang Qishan 王岐山, the current head of CCDI, might be falling from grace — particularly since exiled billionaire Guo Wengui 郭文贵 has lobbed accusations of corruption at Wang. Emphasizing that Wang is an associate of Yang Xiaochao, China-watcher Bill Bishop commented on Twitter: “so much [for] Wang in trouble.”

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  Read more on the case that was initially reported on June 23.