ANKARA: State-run media reported on Wednesday that Chinese authorities have opened a probe into possible corruption among former top bankers.
According to Xinhua News agency, Li Jiping, a former vice president of the state-owned China Development Bank, is the subject of a supervisory and disciplinary inquiry.
“Li, also formerly a member of the bank’s committee of the Communist Party of China (CPC), is being investigated by the CPC Central Commission for Discipline Inspection and the National Supervisory Commission for suspected severe violations of discipline and the law,” according to the report, citing an official statement.
The most recent event occurred after an insider trading and bribery trial in China last month resulted in the former president of China Merchants Bank Co. (CMB) receiving a death sentence with a two-year reprieve.
110,000 Chinese Communist Party personnel, including 45 senior officials, faced disciplinary action for corruption, according to the country’s main anti-corruption organisation, the Central Commission for Discipline Inspection, which released its report in January.
President Xi Jinping’s anti-corruption campaign in China has resulted in the dismissal, punishment, and execution of numerous high-ranking officials.
A corruption investigation is apparently underway for Defence Chief Li Shangfu, one of the two top ministers whom Xi dismissed last year.
