China's insurance regulator chief Xiang Junbo removed from office

China's State Council announced on Friday the removal of Xiang Junbo from the post of chairman of the China Insurance Regulatory Commission (CIRC), according to a statement posted on the website of China's Resources and Social Security.

Xiang Junbo, former chairman of the China Insurance Regulatory Commission (CIRC). [File Photo: CGTN]

Xiang was placed under investigation, suspected of severe disciplinary violations by the CPC Central Commission for Discipline Inspection on April 9.

Xiang took office at the CIRC in October 2011 after serving as chairman of the Agricultural Bank of China Ltd, one of the four biggest state banks.