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China’s Central Bank Deputy Under Probe Of Suspected Violations

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China's Central Bank

China's Central Bank

One of #China’s six deputy governors of the central bank, Fan Yifei, is the subject of an investigation by China’s top anti-corruption watchdog into “suspected significant violations of discipline and law,” the watchdog announced on Saturday. Fan, 58, has been the deputy governor since the beginning of 2015; prior to that, he held important positions at the China Investment Corporation and the China Construction Bank.

In recent years, Chinese President Xi Jinping has intensified attempts to purge corrupt Communist Party leaders from the financial sector. The probe was announced in a statement by the Central Commission for Discipline Inspection (CCDI), but no further information was provided.

The CCDI announced in May that it was looking into possible violations involving Sun Guofeng, the former head of the monetary policy division of the central bank.

The country’s first coordinated investigation of the sector since 2015 was completed in February by the anti-graft watchdog, which had examined 25 organizations in the financial sector, including the central bank and banking and insurance regulators.

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