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China's former top insurance regulator Xiang Junbo faces charges of corruption and bribery, according to reports from Beijing.

Authorities in China ousted Xiang as head of the former China Insurance Regulatory Commission (CIRC) a year ago. Last month, the agency was merged with the national banking regulator.

Xiang was subsequently ejected from the ruling Communist Party last year and became a focal point of President Xi Jinping's campaign against corruption that included new restrictions on overseas investments by insurers. One...

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