As of Dec. 8, 2021, at least 32 officials in Chinese Communist Party (CCP) financial institutions have been investigated, far exceeding the “nearly 20” number of people investigated in 2020, according to the Epoch Times.

On Dec. 3, the CCP’s Central Commission for Discipline Inspection announced that two senior officials in central financial institutions had been investigated. High-ranking officials in the central securities management system were double-disclosed on the same day (excluding the party, removing all government posts).

Information about the two officials under investigation became public on Dec. 3. The first was Han Yi, director of the Shanghai Financial Supervisory Bureau, and Shen Dong, a Party Committee member and Vice Chairman of the Public Administration. People’s Insurance Company of China.

“Beijing Youth Daily” newspaper revealed that Han Yi’s wife and brother were also arrested on Dec. 4. Han Yi’s brother is Mo Gao, the director of Evergrowing bank Ningbo branch. In August 2013, Zhejiang Banking Administration approved Mo Gao’s appointment as assistant manager of Evergrowing bank Hangzhou branch, and Han Yi as director of Banking Regulatory Bureau.

Previously, He Xingxiang, a member of the Party Committee and Vice President of China Development Bank was investigated on Sept. 9.

General Secretary of the CCP Xi Jinping has requested that the fight against financial corruption be carried out for three consecutive years. As of Dec. 8, this year, 12 branch presidents or vice presidents (including retired), three branch secretaries (including retired), and seven officials of the Banking Regulatory Commission, Chinese goods were investigated and handled, a total of 22 people.

At least nine other financial and banking industry officials have been investigated. In total, at least 32 officials, large and small at the central level in this field, have fallen from their horses. Meanwhile, in the same period last year, the number of officials in the finance and banking industry under investigation was only “nearly 20” people.

On Nov. 2, Xu Jiaai, captain of the People’s Bank of China’s Disciplinary Inspection and Supervision Team, revealed in an online interview that in less than four years, his team has investigated and handled 36 corruption cases. 

22 people were transferred to judicial authorities for prosecution, including eight bureaucrats.

Xu said that financial corruption and financial risk “go together,” even “create each other,” and that the current situation “remains serious and complicated.”

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