Posts Tagged

Corruption

The former president of the People’s Insurance Company of China (PICC) in May 2018 was jailed for 11 years for taking bribes. Wang Yincheng, who was also a Communist Party vice-secretary at state-owned PICC, was convicted of receiving 8.7 million yuan ($1.4 million) in bribes from 2006 to 2016, in exchange for helping individuals and firms with project contracts, giving staff promotions, and hiring their children, the official People’s

“Corruption, and the perception of corruption, erodes trust in governments, businesses, and markets. In the aftermath of the greatest financial crisis of our time, we need to rebuild that trust more than ever before.