Xinhua Life Insurance Co., Ltd. former party secretary and chairman Li Quan was convicted of embezzlement and bribery in the first instance.

On November 19, 2025, the Intermediate People's Court of Jinan City, Shandong Province, publicly announced the first instance verdict of the corruption and bribery case of Li Quan, former Party Secretary and Chairman of Xinhua Life Insurance Co., Ltd. Li Quan was sentenced to life imprisonment for embezzlement, deprived of political rights for life, and had all personal property confiscated; and sentenced to death with a two-year reprieve for bribery, deprived of political rights for life, and had all personal property confiscated. The decision to carry out the death penalty with a two-year reprieve, deprive of political rights for life, and confiscate all personal property. The embezzled assets acquired by Li Quan in the case shall be returned to the victim units, and any remaining amount shall be further recovered. The bribes acquired by Li Quan in the case and the interest shall be transferred to the national treasury in accordance with the law.