Media and local officials in Beijing attend an open house hosted by the discipline inspection body of Beijing's Dongcheng district on April 20. The event, which introduced the district's anti-corruption practices and achievements, was part of the municipal government's initiative to invite media and public for supervision. Photo: VCG

The Political Bureau of the Communist Part of China Central Committee held a meeting on Friday to review a report on the rectification and improvement of financial units in the 8th round of inspections of the 19th Central Committee, according to the Xinhua News Agency. The review looked at outcomes of the inspection work for anti-corruption campaigns while extending perspectives for future tasks.

After several high-intensity inspections, some outstanding problems and hidden risks in financial units have been resolved, and the construction of leading groups, cadres and grass-roots party organizations has been strengthened.

The meeting emphasized the need to uphold and strengthen the party's leadership over financial work, prevent and resolve financial risks, and deepen reform and innovation.

Great achievements have been made with consistent and decisive anti-corruption efforts, including major lawsuits in the financial sector this year.

One recent example is the public prosecution of Cai Esheng, former member of the Party Committee and Vice Chairman of the China Banking Regulatory Commission, who was charged with taking bribes and abusing power. 

On June 1, the Disciplinary Inspection and Supervision Team stationed at the People's Bank of China reported 8 cases of spiritual problems that violated the eight central regulations. Among them, details were disclosed about the corrupt behavior of Chen Yaoming, a former member of the Party Committee and Director of China Banknote Printing and Minting Corporation.  

According to the report, Chen received gifts affecting the fair execution of official duties and other issues.

Chen was charged with serious violations of discipline and law, and was placed under disciplinary review and supervisory investigation on December 8, 2021.

Anti-corruption efforts in the financial sector have seen significant results since the beginning of this year. Nearly 30 senior officials in the financial system have been sacked amid the government's active and decisive efforts to create a healthy environment for financial development, according to media reports.