The top anti-corruption watchdog of the Chinese Communist Party (CCP) announced on Saturday that it investigated Fan Yifei, deputy governor of China’s central bank, for “severe suspected violations of discipline and laws.”

According to Reuters, Fan Yifei is one of six China’s central bank deputy governors and the latest high-level finance official to be probed. 

The Central Commission for Discipline Inspection announcement did not give any further details.

Fan Yifei has served as the deputy governor of the People’s Bank of China (PBOC) since 2015, in charge of payments regulation and the development of the digital yuan. 

He held senior positions before joining PBOC, including vice president at China Construction Bank and vice general manager at China Investment Corporation.

Bloomberg reported that the commission announced in May the investigation of Sun Guofeng, former head of the monetary policy department of PBOC. 

In February, after completing a sweeping inspection of multiple financial agencies in the financial sector, the watchdog condemned the PBOC for failing to meet the objectives of the Chinese Communist Party.

Recently, the CCP has purged high-ranking officials for corruption. 

In July, the anti-graft body investigated eight officials in the semiconductor industry. Most are high-profile figures in a Chinese chip monitoring agency and a major state-run chip investment fund.  

During CCP’s national congress held in mid-October, Xiao Pei, deputy secretary of the watchdog, said that about 5 million CCP members were investigated for corruption over the past ten years. Among them, 207,000 officials at all levels were punished.

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