China's graft watchdog sends inspection teams to review financial authorities
The Communist Party's anti-graft body has started a review of China's financial authorities, including the central bank and the securities watchdog, after a series of scandals in the sector amid the summer's market rout.
Teams sent by the Central Commission for Discipline Inspection (CCDI) held meetings at the People's Bank of China, the China Securities Regulatory Commission (CSRC) and the State Administration of Foreign Exchange over the weekend.
The meetings kicked off a review of the entire industry, which was expected to last two months, the agency said on its website on Saturday.
The teams would conduct thorough checks into whether senior officials at financial authorities had violated party discipline.
In the meetings, the team heads insisted officials adhere to the policy directions set by party leaders. Some officials and sensitive issues would be "targeted", the CCDI said in its statement, without elaborating.
The leadership appears adamant about cleaning up the finance sector after Zhang Yujun, an assistant CSRC chairman, was investigated for serious disciplinary violations.