Ex-PICC president pleads guilty to graft: report

The former president of PICC, Wang Yincheng, has reportedly
pleaded guilty to corruption, in the same week the former head of
the defunct Chinese insurance regulator was charged with graft.
According to Chinese state news agency Xinhua, Wang is accused
of accepting over 8.7mn yuan ($1.4mn) in bribes from 2006 to
2016.
Wang appeared in the Intermediate People's Court of Fuzhou,
Fujian province, on Monday and expressed remorse as he pleaded
guilty, Xinhua said.
He was vice chairman and president..