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A Deputy of the China Central Bank is being investigated for alleged violations

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A Deputy of the China Central Bank is being investigated for alleged violations

One of China’s six deputy central bank governors, 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; before 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 banking sector.

The probe was announced in a statement by the Central Commission for Discipline Inspection (CCDI), but no further information was provided.

The CCDI said in May that it was looking into possible breaches involving Sun Guofeng, the former chief of the monetary policy division of the central bank.

In the nation’s first coordinated investigation of the industry since 2015, the anti-graft agency finished an examination of 25 financial institutions in February, including the central bank and banking and insurance regulators.

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