BEIJING • China has arrested a former senior official at the banking regulator over alleged bribery, adding to a long list of executives and policymakers caught up in the nation's anti-graft crackdown.

Cai Esheng, a former vice-chairman at the banking watchdog who retired in 2013, also faces charges over abuse of power, according to the Supreme People's Procuratorate of the People's Republic of China yesterday.

Cai, who was expelled from the Communist Party last month after being placed under investigation in July, is one of the highest-ranking financial sector officials ensnared by President Xi Jinping's multi-year anti-corruption drive.

Born in 1951, Cai was in charge of supervising non-bank financial institutions, including trust firms and bad debt managers such as China Huarong Asset Management, which received a US$6.6 billion (S$8.8 billion) bailout last year. He remained active after retirement and was a frequent speaker at financial forums.

The former chairman of Huarong, Lai Xiaomin, was executed in January last year for crimes including bribery.

China in October launched a nationwide anti-graft crackdown focused on financial institutions and regulators, which has since taken down more than 20 officials in the stepped-up scrutiny of its US$54 trillion financial system.

Wang Bin, chairman of the country's top life insurer China Life Insurance, was placed under investigation last month for suspected serious violations.

The government has vowed to "show no mercy" in its battle against corruption following an anti-graft meeting in January, while state television aired a five-part documentary series called Zero Tolerance, featuring confessions of disgraced officials.

BLOOMBERG