Friends, cronies, and former subordinates of Chinese Vice President Wang Qishan have successively become targets of Xi Jinping's purge.
(Associated Press file photo)
[Financial Channel/Comprehensive Report] Chinese Vice President Wang Qishan, known as the "Anti-Corruption Czar", once assisted Xi Jinping in his anti-corruption campaign and helped him consolidate his regime. In the end, his friends, cronies, and old subordinates all became the targets of Xi Jinping's purge.
Ren Zhiqiang, a well-known second-generation real estate tycoon, was sentenced to 18 years in prison, and the housekeeper Dong Hong was given a suspended death sentence.
On Friday (4th), Wang's former subordinate, Fan Yifei, the current deputy governor of the People's Bank of China (Central Bank), was taken directly from the office by investigators, shocking the market.
The Wall Street Journal reported that China's top anti-corruption agency is investigating Fan Yifei, the vice-governor of the People's Bank of China, who was taken from his workplace on Friday afternoon.
The move marks a heightened scrutiny of China's central bank after Xi Jinping won a third term at the end of last month's 20th Party Congress.
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Fan, who was born in 1964, worked in payments and financial technology at the People's Bank of China, and holds a master's degree in international economics from Columbia University, the report said.
He used to work at China Construction Bank, China Bank, and worked under Xi Jinping's anti-corruption czar Wang Qishan during his first term from 2012 to 2017.
Previously, the Wall Street Journal disclosed in mid-October that Xi's anti-corruption campaign appeared to be targeting Wang Qishan, a potential threat even if Wang did not appear to challenge Xi Jinping's ambitions on the surface.
Therefore, the king's cronies and old subordinates were arrested one after another.
During Chinese New Year this year, Wang Qishan's wife and nephew, Yao Qing, the grandson of Yao Yilin, the former vice premier of the Communist Party of China, was detained. It was reported that Yao Qing's relationship with HNA Group was investigated.
Later, although Yao Qing was released, it meant a strong warning to Wang Qishan.
Not only that, Wang's friend and real estate tycoon Ren Zhiqiang was expelled from the party in 2020 for posting an article criticizing Xi Jinping, and was sentenced to 18 years in prison for corruption and other crimes.
Less than two weeks after Ren was sentenced, Dong Hong, Wang Qishan’s chief butler, was also investigated. In January this year, Dong Hong was given a suspended death sentence.
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