China Life Insurance Chair Under State Anti-Graft Probe

China's top graft regulator has initiated an inspection of financial institutions, leading to over 20 officials being investigated or punished. The most senior official under investigation is from China Life. The company maintains normal operations and plans a board meeting to appoint an acting chairman. This inspection is part of President Xi Jinping's broader anti-corruption drive, which has previously targeted other sectors like public security. The financial sector is being scrutinized for the first time in six years, suggesting more names may emerge in the investigation.

What does the text suggest about the current state of the anti-graft crackdown in China?

What does the investigation of the financial sector signify in the context of the broader anti-corruption efforts?