China: Central bank's former deputy governor faces prosecution for bribery charges

Authorities have charged China's former deputy central bank governor, Fan Yifei, with bribery, China's state news agency Xinhua reported on Wednesday (Sep 27).

Fan, 59, is the highest-ranking official at the People's Bank ofChinato be prosecuted under President Xi Jinping's anti-graft drive over the past decade, in a campaign aimed at weeding out corrupt officials in the financial sector.

A native of Jiangsu province, Fanworked in the banking and finance sectors for several years and began serving as vice-governor of the People's Bank of China in February 2015

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Fan abused his positions atChinaConstruction Bank, ChinaInvestment Corp., and thecentralbank to benefit others in exchange for a "particularly large amount" of bribes, Xinhua reported, without elaborating.

Reuters was not immediately able to reach Fan for comment.

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In June, Fan was expelled from the Communist Party and removed from hiscentralbank post for serious violations of discipline and the law, state media reported.

He was placed under disciplinary review and supervisory investigation in November 2022 and was removed as vice-governor one month later.

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