In a brief statement published online, the Central Commission for Discipline Inspection made no mention of the specifics of the charges leveled against Fan Yifei.
Fan, one of six deputy governors, joined the People’s Bank of China in 2015 after a career in banking, and held the position for more than seven years. He has frequently discussed China’s ambitions to create a digital currency in recent years.
Under Chinese President Xi Jinping, the Communist Party has implemented an extensive anti-corruption campaign. He is able to eliminate many potential political competitors due to the campaign’s popularity with the general public.