Yan Bingzhu, who led the bank since its establishment in 1996 and until he retired in 2017, is among several top officials being probed for “seriously violating discipline and the law,” according to a notice published on the city of Beijing’s official website on Friday.
He is the latest official to be probed for graft as part of President Xi Jinping’s decade-long anti-corruption campaign that critics say has been used partly to remove his political rivals.
Yan had not appeared in public for more than six months.
Xi in January vowed to intensify the crackdown against misconduct in the finance, energy and infrastructure sectors, a move observers fear may further stifle the country’s economic recovery.
Another retired financial executive,
Others who have been targeted for alleged corruption include a former Chinese central bank senior official, Sun Guofeng, who was sentenced to over 16 years in prison for accepting bribes.
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