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Saturday, Dec 03, 2022

China's central bank deputy under probe for suspected violations, anticorruption body says

China's central bank deputy under probe for suspected violations, anticorruption body says

China's top anti-corruption watchdog said on Saturday it is investigating Fan Yifei, one of six deputy governors of China's central bank, over "suspected serious violations of discipline and law".
Fan, 58, has held the deputy governor position since early 2015, before which he had held senior roles with China Construction Bank (601939.SS) and China Investment Corporation.

Chinese President Xi Jinping has stepped up efforts in recent years to weed out corrupt Communist Party officials in the financial sector.

The Central Commission for Discipline Inspection (CCDI) announced the investigation in a statement but did not give any details.

In May, the CCDI said it was investigating Sun Guofeng, the former head of the central bank's monetary policy department, for suspected violations.

In February, the anti-graft watchdog concluded an inspection of 25 financial sector institutions including the central bank, banking and insurance regulators, in the country's first coordinated inspection of the sector since 2015.
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