Former vice-president of PICC Yu Xiaoping under investigation

Yu Xiaoping, former vice-president of the People's Insurance Company (Group) of China Limited, is being investigated for suspected serious violations of Party discipline and national laws, China's top anti-corruption watchdogs announced on Saturday.

The announcement was made online by the Communist Party of China Central Commission for Discipline Inspection and the National Commission of Supervision. No further details were released.

Public records show that Yu previously worked at the People's Construction Bank of China and the China Development Bank, before serving as the chief investment officer of the People's Insurance Company (Group) of China Limited. She was appointed vice-president of PICC in October 2013 and later stepped down from this role.

Early this month, Yu Ze, another former vice-president of PICC, was expelled from the Party and dismissed from public office over severe violations of discipline and law. He was placed under investigation in December.