Sunday, November 27, 2022

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Deputy governor of China’s central faces corruption charges

New Delhi: A deputy governor of China’s central bank is being looked into on suspicion of “severe violations of discipline and law,” according to a statement made on Saturday by the anti-corruption division of the ruling Communist Party.

In a brief statement published online, the Central Commission for Discipline Inspection made no mention of the specifics of the accusations made against Fan Yifei.

Fan, one of the six deputy governors, joined the People’s Bank of China in 2015 following a career in banking, and has served in the position for more than seven years. He has discussed China’s ambitions to create a digital currency frequently in recent years.

Under Chinese President Xi Jinping, the Communist Party has implemented a comprehensive anti-corruption campaign. He has been able to eliminate several possible political competitors thanks to the campaign’s popularity with the general population.

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