Li Peng's daughter denies 'rumors'

The daughter of former premier Li Peng, has denied foreign media reports that she helped broker Zurich Insurance's entry into the Chinese market.

Accusations against Li Xiaolin, chairwoman of China Power International Development, which is listed in Hong Kong, were rejected in a statement on the company's micro blog on Sunday.

The statement said that "rumors circulated on the Internet about Li's involvement in insurance (company) transactions are merely malevolent defamation".