economy - China Life, Lucent, others try to clean house

A massive Spring cleaning seems in the air this morning. China's largest insurance company China Life tries to explain its way out of the US stock regulator's inquiry and US telecommunication equipment producerLucent fired four of its top people in China for taking bribes.
China Life blames its predecessor for breaking the insurances laws, the current company is only very new, set up in June 2003, so could not have done that much wrong. Problem is the perception of the investors that they bought the shares because it is such a well-established company in China. That now might not always be an asset.