Communist Party Creates Financial Graft-Busting Committee

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Wang Weidong. Photo: VCG

The Communist Party of China has created a committee to target corruption in the financial sector, headed by a former official at the country’s top graft watchdog.

The committee’s first public appearance came in an article on the party Central Committee’s recently completed Third Plenum published Monday by the official newspaper of the Central Commission for Discipline Inspection (CCDI), the top graft watchdog. The article quoted the chief of the Central Financial Discipline Inspection and Supervision Work Committee, Wang Weidong.

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The Communist Party of China formed a committee headed by Wang Weidong to combat financial sector corruption.
The committee aims to enhance political supervision and execute the Central Committee's major financial decisions.
Established bodies like the Central Financial Commission and a new Financial Stability Law are part of a broader regulatory overhaul.

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What Happened When

Since 2016：: Wang Weidong has been working in the anti-corruption system.

2019：: Wang Weidong was appointed a member of the standing committee of the Xizang autonomous region’s party committee and the region's top anti-graft official.