The former chairman of the Bank of China has been arrested over corruption allegations, Chinese state media reported on Monday.
ADVERTISEMENTThe Supreme People's Procuratorate has accused Liu Liange of bribe-taking and illegal loan-issuing.
Earlier this year, Mr Liu stepped down from his role as the chairman of the Bank of China.
He was also dismissed from his position as an official in the Chinese Communist Party (CCP).
Since coming to power in 2012, President of China Xi Jinping has been waging a tough campaign against official corruption.
The arrest of Liu Liange is the latest in a series of harsh measures taken against high profile financial executives in the country.
Whilst Xi’s approach has its supporters, critics of the policy say it allows the President to disempower his opponents.
