Chinese authorities have detained a senior banker whose father, the country’s former top securities regulator, is also under investigation, as President Xi Jinping’s anti-corruption campaign increasingly ensnares family members of fallen officials.
Yi Chenyang, a rising star at state-backed China International Capital Corporation, one of the country’s leading investment banks, was taken away by authorities in recent weeks as part of the investigation into his father, according to two people familiar with the matter.
The communist party’s anti-graft watchdog announced over the weekend that Yi’s father, ex-China Securities Regulatory Commission chair and party secretary Yi Huiman, was suspected of “serious violations of discipline and law”, a phrase often used in corruption probes, and was being investigated.