China's Anti-Graft Campaign Claims Former Deputy Central Bank Governor

Fan Yifei, China's former deputy central bank governor, has been sentenced to death with a reprieve for accepting over 386 million yuan in bribes. His case is part of a broader crackdown on corruption in China's financial sector led by President Xi Jinping.

China's rigorous anti-corruption drive in the financial sector has led to the sentencing of former deputy central bank governor, Fan Yifei. The court in Hubei province announced a death sentence, with a two-year reprieve, for Fan, who was found guilty of accepting bribes worth more than 386 million yuan.

The court highlighted the severe social impact and extensive losses to the state caused by Fan's actions, marking him as the highest-ranking official at the People's Bank of China to be targeted by President Xi Jinping's campaign in a decade.

This crackdown has also implicated other financial leaders, such as Liu Liange and Tang Shuangning, signaling a strong stance against corruption within major financial institutions.

(With inputs from agencies.)