Several CCP officials from the banking and insurance sectors are under investigation

On July 24, Li Huanting, a first-level inspector with the China Banking and Insurance Regulatory Commission’s (CBRC) Henan Office, was under investigation. He is about to retire. Since 2018, Li has held the positions of deputy director of the Henan Office of CBRC, a member of the party committee, and a member of the preparatory group.

Along with Li, the CCP recently looked into and disciplined several high-ranking individuals in the banking sector. Among them are Zhang Yansen, a former member of the Commission for Discipline Inspection of the CBRC, and Song Zhanying, a former inspector of the CBRC’s Office of Prevention and Treatment of Illegal Fund-Raising, who has been retired for over thirteen years and five years, respectively.

According to Miles Guo, the Chinese Communist Party (CCP) intended to ensure financial and real estate stability before the 20th National Congress. The Central Commission for Discipline Inspection has issued directives to banking institutions at all levels. So, the majority of arrests and investigations in recent days have involved senior officials in the banking sector.

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