China's top anti-graft watchdog probing Shanghai head of banking and insurance regulator

China's top anti-corruption watchdog said it is investigating the head of the Shanghai office of the China Banking and Insurance Regulatory Commission, Han Yi, over serious violations of party discipline and national laws.

The Central Commission for Discipline Inspection (CCDI) announced the probe in a statement published on Friday, without giving further details.

The CCDI started in October a roughly two-month inspection of 25 financial institutions including the central bank, the banking and insurance regulator, stock exchanges, commercial banks and asset-management companies.

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