Three China central bank officials warned for graft

Three Chinese officials who work for the People's Bank of China have been given administrative warnings.
Three Chinese officials who work for the People's Bank of China have been given administrative warnings.PHOTO: REUTERS

BEIJING (Reuters) - Three Chinese central bank officials were given administrative warnings after investigators found their division had padded salaries and misused official vehicles, the Communist Party's corruption watchdog said on Wednesday.

The three all work for the People's Bank of China's credit reference centre, and included its Communist Party boss Wang Xiaoming, director Cao Ningrong, and party chief of its discipline department, Gao Jun, the watchdog said in a brief statement.

"All levels of the People's Bank of China must take this as a warning," the watchdog added.

Calls to the central bank seeking comment went unanswered.

Chinese President Xi Jinping has launched a sweeping crackdown on deep-rooted graft since taking over the party's leadership in late 2012 and the presidency in 2013. Dozens of senior officials have been investigated or jailed.

Graft investigators have fanned out across the country looking for abuses, including in government departments and ministries in Beijing.

China's financial regulators have been under heavy pressure since stock markets collapsed in mid-June following a long bull run, though the statement made no mention of the markets.