Former Director of Liaoning Insurance Regulatory Bureau, Gao Cui, and her husband, He Wanjun, Party Secretary of Huahui Life Insurance, were both taken away for investigation on April 10, 2026. The couple both graduated from Northeast University of Finance and Economics (NEUFE). In recent years, several alumni of NEUFE who hold high positions in finance have been falling from grace, including Tang Shuangning, former Chairman of Everbright Group, and Zhang Gengsheng, former Vice President of Construction Bank.
According to the official website of the Central Commission for Discipline Inspection, Gao Cui, a female born in February 1968, graduated from NEUFE. She has held various positions in financial institutions before becoming the Party Secretary and Director of Liaoning Insurance Regulatory Bureau in April 2011.
It was reported by the WeChat public account “Insurance News” that around 2017, Gao Cui left the Liaoning Insurance Regulatory Bureau and started preparing for Rongsheng Property Insurance. Rongsheng Property Insurance was approved to operate in June 2018, with Gao Cui serving as the Party Secretary. However, the company has yet to turn a profit, accumulating losses of 297 million yuan from 2018 to 2025.
Sources revealed that Gao Cui was investigated last week, along with her husband He Wanjun. The couple, who met at NEUFE, have been deeply involved in financial work in Liaoning. They worked together at Liaoning International Cooperation Group, an enterprise under the Liaoning provincial government, before later transitioning to the insurance industry, holding temporary leadership positions at Huahui Life Insurance and Rongsheng Property Insurance. These two companies are the only two insurance legal entities under the supervision of the Liaoning Regulatory Bureau.
He Wanjun, born in 1967, was formerly a teacher at NEUFE and had worked at various financial offices before becoming the Acting Secretary of the Board at Yongcheng Property Insurance and the General Manager of the Asset Management Department at China Reinsurance.
Huahui Life Insurance, established in December 2011, has released only one annual report since its inception, with all six shareholders’ shares currently frozen. The summary of the solvency reports from 2016 to present disclosed on the Huahui Life Insurance official website showed continuous losses over the years, totaling approximately 300 million yuan in eight years.
Both former Liaoning Insurance Regulatory Bureau Director Gao Cui and her husband He Wanjun are NEUFE graduates. NEUFE, located in Dalian City, Liaoning Province, is a research-oriented university with a strong emphasis on economics and management disciplines, jointly established by the Ministry of Finance, the Ministry of Education, and the Liaoning provincial government.
As a finance and economics university, NEUFE has nurtured numerous officials and corporate executives in finance, taxation, and economics sectors. In recent years, many alumni of NEUFE who hold key positions in the Chinese Communist Party’s financial sector have been targeted in anti-corruption campaigns, such as Zhang Shaochun, former Vice Minister of Finance, who was sentenced to 15 years in prison for bribery in May 2019.
Sun Deshun, former Deputy Party Secretary and President of CITIC Bank, who was executed for bribery in November 2023, was also an alumnus of NEUFE. Yao Jiangtao, former Chief Economist of Aviation Industry Corporation of China and former Chairman of China Aviation Trust, was also investigated in March 2023.
In addition, prominent figures like Tang Shuangning, former Party Secretary and Chairman of Everbright Group, and Li Jiping, former Deputy Governor of China Development Bank, who graduated from NEUFE, were sentenced to prison for bribery crimes. Zhang Gengsheng, former Vice President of Construction Bank, also an alumnus of NEUFE, was sentenced to 18 years in prison for bribery and illegal loan activities in January 2026 after being investigated in November 2024.