Ex-PBOC Deputy Head Arrested on Suspicion of Bribery

What’s new: Fan Yifei, a former deputy governor of China’s central bank, was arrested for suspected bribery and is now facing criminal investigations, the Supreme People’s Procuratorate, the country’s top prosecutor, said Tuesday.

Fan, who became the deputy head of the People’s Bank of China (PBOC) in early 2015 and oversaw the fintech and payment sectors, is one of the highest ranking financial officials involved in the country’s sweeping corruption crackdown.