The number of financial corruption cases investigated by the CCDI last year surged to 178, including high-profile officials, reported Caixin.
China’s top graft buster detained 22 financial officials in 2019 in corruption investigations involving more than RMB 1.5 billion ($212 million), the oversight agency reported in a video.
The inspection team of the Central Commission for Discipline Inspection (CCDI) at the China Banking and Insurance Regulatory Commission (CBIRC) reviewed more than 1,500 complaints last year, of which 178 were formally investigated, deputy team leader Li Yanru said in a video posted on the CCDI’s website. That was an increase of 48% from the previous year.
Senior officials who were punished include Qi Xinzheng, director and party chief of the Fujian bureau of the CBIRC; Zhao Rulin, a deputy head of the CBIRC’s Guangxi bureau; three senior officials at the Inner Mongolia branch of the CBIRC; officials at two of China’s biggest asset managers; and a senior official at the Insurance Industry Association of Jiangsu.