For­mer bank of­fi­cial ex­pelled from CPC

China Daily (Hong Kong) - - CHINA - By ZHANG YI zhang_yi@chi­nadaily.com.cn

A for­mer se­nior of­fi­cial of China’s top bank­ing reg­u­la­tory au­thor­ity has been ex­pelled from the Com­mu­nist Party of China and re­moved from all pub­lic posts.

Yang Ji­a­cai, for­mer as­sis­tant chair­man of the China Bank­ing Reg­u­la­tory Com­mis­sion, has been placed un­der in­ves­ti­ga­tion for hav­ing “se­ri­ously vi­o­lated the Party’s dis­ci­plinary rules”, ac­cord­ing to a state­ment is­sued on Tues­day by the Cen­tral Com­mis­sion for Dis­ci­pline In­spec­tion, China’s top anti-graft au­thor­ity.

Also a for­mer mem­ber of the CPC Com­mit­tee of the com­mis­sion, Yang was found to have in­ter­fered with a Party in­spec­tion and au­dit, and il­le­gally held ac­tiv­i­ties re­lated to his pro­mo­tion, the CCDI said.

The in­ves­ti­ga­tion found that Yang had flouted fru­gal­ity rules by fre­quent­ing pri­vate clubs, and that he took ad­van­tage of his po­si­tion to help his son’s busi­ness. He also vi­o­lated CPC dis­ci­pline by in­ter­fer­ing in the pro­mo­tion process of of­fi­cials and failed to re­port his per­sonal in­for­ma­tion prop­erly, the CCDI said.

Yang also ac­cepted a large sum of money and prop­erty in re­turn for fa­vors, it said.

As a for­mer se­nior of­fi­cial of China’s top bank reg­u­la­tor, Yang se­ri­ously vi­o­lated the Party’s code of con­duct, dis­rupted or­der in fi­nan­cial mar­kets and harmed the im­age of the com­mis­sion, it said.

Yang’s il­le­gal gains will be con­fis­cated, the CCDI said. His case has been handed over to law en­force­ment de­part­ments.

A na­tive of Hubei prov­ince, Yang started his ca­reer at the grain bureau of Zhongx­i­ang county. He later worked for the county’s fi­nan­cial depart­ment.

He worked at the Zhongx­i­ang branch of Bank of China from 1988 to 1990 and held a se­nior po­si­tion. He then worked his way up. He was named the com­mis­sion’s as­sis­tant chair­man in 2013.

Xin­hua con­trib­uted to this story.

Yang Ji­a­cai

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