Authorities detain Fude Insurance chairman to assist in investigation

Major mainland insurance company Fude Insurance Holdings has revealed its chairman, Zhang Jun, “is assisting relevant Chinese authorities with an investigation,” Caixin reported, citing a short statement from the company. Fude’s statement said the case was a “personal matter” and that the company is “not being investigated or being asked to assist the investigation.” The magazine cited unnamed sources as saying the detention was related to an inquiry into Liu Zhigeng, a vice governor of Guangdong province who the party’s discipline branch announced on February 4 was under investigation on suspicion of corruption.